An agreement has reportedly been reached between Wolves and Atletico Madrid for the transfer of Rafa Mir.

According to a report put out by COPE late last night, and Football Espana today, the player will ‘remain’ in Madrid and has no intention of travelling back to Wolverhampton.

Rafa Mir looks on against Osasuna
Photo by Alex Caparros/Getty Images

The agreement has been closed at an initial €15 million/£12.7 million, with Atleti to then potentially pay a further €10 million/£8.4 million in ‘variables’.

Apparently, the Spanish champions are hoping to be able to call on Mir for their opening La Liga match against Celta Vigo this Sunday.

It was reported recently by Fabrizio Romano that Mir had actually already agreed personal terms.

The renowned journalist stopped short of saying there was any agreement between the two clubs at that point though.

This development comes after Bruno Lage commented on the player for the first time.

He said: “I like him, I know him before, so we need to wait to see what happens. Top player, he’s doing well, I know he has a past in the club, like Cutrone.

£21 million would be a good fee

It isn’t made clear how exactly the deal is structured.

But Wolves getting £21 million in total would be a great deal.

Real Valladolid CF v SD Huesca - La Liga Santander
Photo by Diego Souto/Quality Sport Images/Getty Images

He has less than a year remaining on his contract and it hasn’t seemed like he’s wanted to extend.

Potentially he could thrive there if he does complete this transfer as expected, but at least Wolves would have secured some decent compensation.

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