Wolves set to hand Ruben Neves transfer ultimatum amid Man Utd and Arsenal interest

Wolves are set to hand Ruben Neves a bumper new deal in a bid to ward off transfer interest from Arsenal and Manchester United - but the Midlands outfit will cash in on their prized playmaker if he refuses to commit his future to the club.

Neves has enjoyed a new lease of life under Bruno Lage this year and has been instrumental in Wolves' rise up the Premier League table. Lages' men are currently right in the mix to clinch a European spot with a top-eight finish.

However, Neves' influential performances for Wolves have not gone unnoticed, with a host of top European clubs keeping tabs on the Portuguese midfielder. Real Madrid and Paris Saint-Germain have also made checks on the 25-year-old, whose contract at Molineux runs until the summer of 2024.

And in an update on his future, Wolves Technical Director Scott Sellars has revealed that the club are talking to their midfield maestro over a new, long-term deal. However, Sellars hinted that the club wouldn't hesitate to cash in on the £50million-rated star if he rebuffs their proposals.

Sellars told The Express and Star : "We're obviously talking to him and we all know how much he loves playing for the club. We know how much he has settled here, but he is also an ambitious young man. As with all players, you try and have an open dialogue with them and their representatives to come to the best scenario for the club and the player.

"Rightly so, elite clubs all over Europe will have Ruben on their radar, but we have an excellent relationship with him and will do things properly, and collaboratively, when the time is right. Ruben is having a fantastic season and everybody should take a pat on the back in terms of how well he is playing."

Neves has amassed over 200