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Jorgen Strand Larsen scored 14 Premier League goals for Wolves last season Wolves have accepted a reduced offer worth £48m for striker Jorgen Strand Larsen from Crystal Palace. Last week, the two clubs reached an agreement in principle over a £50m deal for the Norway international to move to Selhurst Park. All that was left was for Palace to submit a written offer - and provided the bid was of the value discussed, Wolves would have accepted. However, as BBC Sport revealed, the offer never arrived as Palace communicated their intention to walk away from the deal, which put the transfer in jeopardy. Sources claim that Palace's decision to pause final talks was down to reservations over the total cost of the deal, not concerns over the player. The impasse in recent days has placed further doubt on the deal. But with a little over 24 hours to go until the transfer window closes, Palace have now had a new offer worth £43m plus an additional £5m in bonuses accepted for the 25-year-old - a deal worth £2m less than their original verbal offer. The Strand Larsen deal is now expected to accelerate Jean-Philippe Mateta's move to AC Milan. Mateta, 28, wants to leave Selhurst Park for the Italian side but Palace have been unwilling to let the France international go without a replacement. But with Strand Larsen now set to join Palace, sources are indicating that Mateta's protracted move to the San Siro will now gather pace. Palace are open to selling Mateta this month provided they recoup a fee of between £35million and £40million. It remains to be seen whether Milan make a formal offer close to the fee Palace are looking for, with sources indicating the Serie A side want to pay closer to £30million plus add-ons. Nottingham Forest saw a £35million bid for Mateta rejected by Palace last weekend but the striker has made it clear he wants to join Milan. Wolves, meanwhile, are moving to replace Strand Larsen and are close to reaching a deal for Southampton striker Adam Armstrong for an initial £7m. There is growing confidence the move will be done as Wolves prepare for their expected relegation to the Championship. The 28-year-old has 11 goals for Saints in the Championship this season and has 43 goals for the club since joining from Blackburn in 2021. Transfers - January 2026 Latest Crystal Palace news, analysis and fan views Ask about Crystal Palace - what do you want to know? Comments can not be loaded To load Comments you need to enable Java Script in your browser Premier League: Late drama as Man Utd retake lead over Fulham in stoppage time Mbappe injury-time penalty gives Real Madrid laboured win Rain halts play after England reach 57-2 in pursuit of 190 to beat Sri Lanka What happens to our brains when we're under anesthesia? Voyager’s epic journey into deep space Former Olympian Steve Cram CBE reveals the secrets to running The most improbable hotel makeover of the Hebrides Happy tennis, serious name - the making of Carlos Alcaraz Why 2026 could be GB's most successful Winter Olympics The most powerful woman in football - meet game's first female super agent 'Torres-like' Ekitike haunts long-term admirers Newcastle A Slam four years in the making - Rybakina's return to top I never stopped believing - Calvert-Lewin Your Winter Olympics need-to-know guide in six charts Nine siblings and a dog called Zoomer - Wirtz in his own words Djokovic steals show as Australian Open finally ignites Barcelona 'shakedown' offers first hints of F1 2026 Cages, crushes and stabbings - is European away safety getting worse? The NFL's 'Queen's Gambit' who helped create $1. 5bn worth of talent Record-breaking World Cup, so why no title sponsor for domestic league? Copyright © 2026 BBC. The BBC is not responsible for the content of external sites. Read about our approach to external linking.