Wolves have been linked with a move for James Rodriguez for a while now.
As per reports from Colombia (translated by Birmingham Mail), the Molineux club have backed out of the transfer chase and Everton are leading the race now.
Rodriguez has worked with the Everton manager before and a reunion is very much on the cards.
The report adds that his move to Everton will be handled by super-agent Jorge Mendes.
Rodriguez needs to leave Real Madrid permanently in order to resurrect his career and a move to Everton would be ideal for him.