Wolves have made an offer worth in the region of £18 million for Joao Palhinha.
According to a report by Portuguese outlet O Jogo, Sporting are looking for 30 million euros (£25.6 million).
It had been reported previously that Sporting would hold out for £51 million.
They need to sell players to raise funds this summer, but had previously been unwilling to budge on their asking price.

Now, with the end of the transfer window in sight, it appears they might be being more reasonable.
But of course Wolves have still not matched their asking price, bidding more than £7 million less.
And some Wolves fans have had their say on that. Some are skeptical that Sporting will even accept anything less than that initial £51 million.
Here’s how the report of the bid went down on Twitter, with Wolves still looking for a new central midfielder in the final few weeks of the window:
- Wolves may have already missed out on perfect Vitor Pereira backup plan as future in doubt
- Joao Gomes set to make his 100th Wolves appearance but Vitor Pereira is not satisfied
- Wolves were willing to pay more than West Ham for Ajax midfielder, but he turned them down
- The Scott Parker statistic that gives Wolves a reason for hope ahead of Burnley clash
- Wolves fans finally hear from Vitor Pereira on Mateus Mane’s situation
