Ivan Cavaleiro began August playing for Monaco in their Champions League qualifier against Fenerbahce

Wolves have made their 12th summer signing by bringing in Monaco winger Ivan Cavaleiro on a five-year contract for a reported club-record deal.

The undisclosed fee for the 22-year-old Portuguese is understood to eclipse the £6.5m spent on strikers Kevin Doyle in 2009 and Steven Fletcher in 2010.

Both players were signed while Wolves were a Premier League club.

Cavaleiro is Wolves' second signing of deadline day, after defender Richard Stearman returned on loan from Fulham.

Morocco midfielder Romain Saiss joined on Tuesday from French Ligue 1 club Angers for an undisclosed fee on a four-year deal, while Wolves are also reported to have had two bids rejected for Derby County striker Chris Martin.

Find all the latest football transfers on our dedicated page.