Pompey's Jed Wallace is Wolves' first signing
Wolves today started their summer strengthening with the £275,000 signing of Portsmouth midfielder Jed Wallace.
The 21-year-old has signed a three-year contract and finalised the deal today .after travelling up to the West Midlands.
Wolves met a £275,000 release clause in Wallace's contract that was only signed last summer and beat off a host of Championship clubs.
They included Fulham, Sheffield Wednesday, Charlton Atheltic and Ipswich Town, who were all in the race for the highly-rated 21-year-old.
He won six Player of the Year trophies at the end of this season, was named in the PFA League Two Team of the Year and also has one England Under-19 appearance to his name.
Wolves boss Kenny Jackett said: "We are delighted to have completed a deal to sign Jed.
"He is a young player with a very bright future who has played a lot of football for a 21-year-old and is now ready to make the step up to the Championship.
"I am looking forward to working with him in the new season."
A naturally right footed player who has played a lot of games at wide right, Wallace has become two-footed this season after scoring numerous times with his left peg.
New boss Paul Cook, the ex-Wolves midfielder, and chairman Iain McInnes admitted the youngster would be leaving Fratton Park this summer, following failure to win promotion from League Two.
Born in Reading, Wallace played for Carshalton Athletic as a youth-teamer before joining Pompey.
He was loaned out to non-league sides Farnborough and Whitehawk, scoring eight times in 11 games for the latter.
Wallace made his debut in senior football in August 2012 in a 3-0 League Cup defeat at Plymouth.
Making his league bow on New Year's Day 2013 in a 5-0 loss at Swindon, he netted his first goal three days later in a 3-1 home defeat to Hartlepool, the first of six in 23 appearances that season.
Pompey are preparing to unveil one-time Wolves academy graduate Kyle Bennett to help fill the gap of Wallace's departure.
