In a dramatic final twist to the January transfer window, Crystal Palace and Wolverhampton Wanderers have reached a verbal agreement for the transfer of striker Jørgen Strand Larsen to Selhurst Park for a fee in the region of £50 million, though the deal remains delicately poised amid late-hour brinkmanship.
The proposed transfer, handled by agent Jorge Mendes on behalf of Wolves, would see Palace pay an initial £45 million ($62.1m), with a further £5m in performance-related add-ons.
This sum would shatter the South London club’s recently set transfer record, eclipsing the £35 million paid for Brennan Johnson earlier this month and underscoring the club’s ambition to secure a top-tier center-forward.
The negotiation marks a swift escalation, with Palace’s interest intensifying only in the final days before the deadline after Leeds United, whose offers reached £40m, proved unwilling to match Wolves’ valuation.
The 25-year-old Norwegian international arrives with a complex recent history. After a standout debut Premier League season in 2024-25 where he scored 14 goals for Wolves, he has found the net just once in the league this campaign as his club languishes at the bottom of the table.
Despite this dip, his underlying talent and physical presence, standing at 6’4″, have kept him in high demand, with Wolves having rejected multiple bids from Newcastle United worth up to £55 million last summer.
His journey to England included formative spells in the Netherlands with Groningen, where he was named Player of the Year, and in Spain with Celta Vigo, where he became a fan favorite affectionately known as “Xurxo”.
The potential acquisition is intrinsically linked to the anticipated departure of Jean-Philippe Mateta. The French striker, who has scored 38 goals in his last 95 Premier appearances for Palace, has informed the club of his desire to leave.
Nottingham Forest have submitted an offer of around £35 million for Mateta, with Juventus and AC Milan also expressing concrete interest.
Palace are seeking a package worth approximately £40 million for their outgoing star, and the club’s move for Strand Larsen is widely seen as securing a replacement before sanctioning Mateta’s exit.
In a related move, Palace are also closing in on a loan deal for Aston Villa forward Evann Guessand to bolster their attacking options.
However, the entire sequence of events was thrown into doubt on Thursday when sources indicated Palace communicated an intention to walk away from the Strand Larsen deal, despite a prior agreement in principle.
The formal written offer expected from the Eagles had not arrived, leading to speculation that the development may be a last-ditch negotiating tactic to lower the final fee. This uncertainty creates a domino effect, potentially impacting Mateta’s move and leaving all parties in a tense standoff with the window closing.