Wolverhampton Wanderers are in advanced talks with Joao Moutinho over a new two-year contract at Molineux, according to The Telegraph.

Since joining the West Midlands outfit last summer, the 33-year-old midfielder has made 56 appearances in all competitions.

It appears that Wolves are keen to ensure that the Portugal international does not leave the Molineux when his deal expires at the end of the season.

According to the Express & Star, the Wanderers are making good progress in negotiations after offering the veteran playmaker terms for another two years.

The report goes on to claim that Moutinho has welcomed the talks and is likely to put pen to a paper on a new contract.