Perez is surplus to requirements at Arsenal after struggling to have an impact in north London.
Arsenal striker Lucas Perez is reportedly available this summer for a bargain fee of just £7million - less than half the £17.1milion paid for his services in 2016 (Sky Sports) - and Wolves should seriously consider an offer.
Italian outlet Correire Di Roma claim Serie A outfit Lazio have been told they must pay a knockdown price of £7million if they want to sign 29-year-old striker Perez.
Perez was brought to north London in the summer of 2016 after shining for Deportivo, but was hardly given a chance at Arsenal. He did, however, managed seven goals and five assists in 21 appearances for the Gunners.
But that was not enough to convince former boss Arsene Wenger to keep him on side last summer, and he was loaned back to his former Spanish club where he scored nine league goals in their fight against the drop.
They suffered relegation, though, and a permanent move back to his old club was thrown on the scrapheap. Lazio are now keen to land the striker, and the bargain £7million fee is likely to tempt them.
But Wolves should do all they can to lure Perez to the Midlands, with Nuno Espirito Santo's side in need of a striker to provide competition for new forward Raul Jimenez.
The 55-time Mexico international has joined the club on a season-long loan from Benfica and is expected to lead the line throughout the 2018-19 campaign. Leo Bonatini is also expected to challenge for a place up front.
But other than those two, Wolves have little options up front and the technically-gifted Perez should be considered - who can also play out wide as well as up front and in the number 10 role.
Throughout Perez's career, it has been obvious that if he is given a regular role in the starting eleven, he will guarantee you goals. Now, Wolves can given him that chance for a tiny fee.