Teenage defender Luke Matheson is to join Wolves, but will remain on loan at Rochdale until the end of the season.
The 17-year-old, who scored against Manchester United in the EFL Cup in September, is having a medical at the club.
Matheson has made 15 starts for the League One club, scoring his first league goal against Bolton in January.
At 15 years and 336 days, the full-back became Rochdale’s youngest-ever first-team player.
Matheson, who has been at Rochdale since the age of eight, signed his first professional contract in October, just weeks after turning 17.