Cunha's future is currently the subject of much speculation, with Manchester United believed to be huge admirers of the Brazilian, while Tottenham Hotspur, Newcastle United and Aston Villa are also said to be keen.
Outside of the Premier League, there is allegedly interest from Italy, with AC Milan and Napoli thought to be two of the clubs monitoring the 25-year-old, who has been in excellent form during the 2024-25 campaign.
Cunha has scored seven goals and registered three assists in 14 Premier League appearances this term, while he has 23 goals and 12 assists in 71 matches for Wolves since arriving from Atletico Madrid in 2023, initially on loan.
The South American has a contract at Molineux until June 2027, but Wolves are seemingly facing a huge battle when it comes to keeping hold of him beyond next summer due to the growing interest in his services.
Arsenal 'hold talks' over Cunha move
According to CaughtOffside, Arsenal have 'had some contacts' in a bid to 'gain information' about Cunha's situation, with the Gunners emerging as serious contenders for his signature.
The report claims that Wolves are attempting to extend Cunha's deal until June 2029, but a move to Arsenal will surely be appealing, with the Gunners looking to bring in competition for Kai Havertz when it comes to the centre-forward spot.
The attacker has an impressive record of 21 goals and 10 assists in 63 Premier League matches, while he scored seven goals and registered eight assists in 54 games for Atletico ahead of his departure.
Wolves head coach Gary O'Neil recently dismissed suggestions that Cunha could be on the move during the January transfer window.
O'Neil rules out January exit for in-demand Cunha
"Firstly, zero concerns from my part. I want him to play as well as possible, I want everyone in the world to want him. That is my job to help Matheus perform at the highest level," O'Neil told reporters last week.
"Mine and Matheus' relationship, and his understanding of what we are trying to do here is exceptionally good. I don't foresee there being any problems whatsoever in January.
"Contract-wise, I leave that to the club. We have a real focus, Matheus included, on tomorrow's game, and making sure that we are in the best shape to beat Bournemouth, and the contract stuff will be handled by the football club."
When later asked whether Cunha would depart in January, the manager responded: "Matheus won't leave in January. Definitely not."
Cunha was unable to prevent Wolves from suffering a 4-0 defeat at Everton on Wednesday night, with the result leaving the team in 19th spot in the Premier League table, three points behind 17th-placed Crystal Palace.
Written by
Matt Law