Alvarez is an international colleague of the Wolverhampton Wanderers striker, Raul Jimenez.
The website states that, according to a source close to the player, Wolves have already approached both himself and the America chairman, Santiago Baños, to ask about Alavrez's willingness to join them and start transfer negotiations, respectively.
Although it adds the 21-year-old recently extended his contract with the Mexican side until 2022, and has a $10 million (£7.9 million) termination clause.
Wolves enjoyed an encouraging first season back in the Premier League, in which they qualified for Europe.
And Alvarez, who has been linked with moves to Celtic and Inter Milan in recent months, could be the ideal recruit for a club looking to continue its growth in the coming campaigns.
Despite his age the Club America academy product has already won 22 caps for the Mexican national team, with whom he impressed at last summer's World Cup.
Wolves already employ Alvarez's international colleague, Raul Jimenez.
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