The Premier League champions are in the hunt for a midfielder with their options getting further depleted by Kevin De Bruyne’s injury.
A move for West Ham star Lucas Paqueta collapsed after it emerged that he is involved in an FA investigation into betting breaches.
Nunes has emerged as one of the top contenders for Manchester City and the club are exploring the possibility of signing him.
Manchester City are yet to table a bid and Wolves are insisting that they want to hold onto the Portuguese midfielder.
It has been claimed that the Premier League champions would have to bid in excess of £60m to test Wolves’ resolve.
The Midlands club have already seen several of their top stars leave this summer, which also triggered the departure of former manager Julen Lopetegui days before the start of the season.
Nunes is a player Wolves are keen to keep but they are facing well-documented financial problems this summer.
There are suggestions that a big money offer from Manchester City could be too hard to resist for Wolves.
