A major January transfer swap deal between Wolverhampton Wanderers and Nottingham Forest is being mooted, which could see striker Jørgen Strand Larsen move to the City Ground with midfielder James McAtee heading in the opposite direction.
The Potential Deal Structure
According to reports, Wolves have set a £40 million asking price for their Norwegian striker, Jørgen Strand Larsen. With Forest potentially unwilling or unable to pay that sum outright, a creative solution has been proposed. The deal would see Forest's attacking midfielder, James McAtee, move to Molineux along with a significant cash sum to make up the valuation.
It is suggested that McAtee, who joined Forest from Manchester City for around £30 million in the summer of 2025, could be valued at approximately £25 million in the current market. This would mean Forest adding roughly £15 million in cash to secure Strand Larsen's signature, meeting Wolves' £40 million demand.
Why It Makes Sense for Wolves
For Wolves, the logic is driven by their precarious league position. With just one win in their opening 21 Premier League games, relegation to the Championship is a near certainty. This makes cashing in on their prized asset a pragmatic move. Strand Larsen, who scored a hat-trick against Shrewsbury Town in the FA Cup, has attracted serious interest, including two bids over £50 million from Newcastle United last summer.
In McAtee, Wolves would acquire a player they have long admired. Despite a difficult start at Forest, where he has managed only 170 Premier League minutes and is yet to register a goal or assist, the 24-time England Under-21 international has proven his quality in the Championship with Sheffield United. He could become a central figure in Wolves' bid for an immediate promotion return.
Why It Makes Sense for Nottingham Forest
Forest manager Sean Dyche is reportedly seeking more firepower to secure Premier League safety, despite a recent 2-1 win over West Ham United that leaves them seven points clear of the drop zone. With Chris Wood injured and new signings like Igor Jesus and Arnaud Kalimuendo yet to fully settle, goals have been a problem.
Strand Larsen's profile appears an excellent fit. The Norwegian international's strengths in positioning and well-timed runs would suit Forest's style of play, which often involves crossing from wide areas. He scored 14 goals in 35 games during his debut Premier League season last year, and replicating that form would be a major boost for Dyche's side.
Overcoming the Obstacles
While swap deals are rare in modern football, the circumstances align for this one. McAtee needs a fresh start and regular football to reignite his career, which a move to a Championship-contending Wolves could provide. For Strand Larsen, it's a chance to remain in the Premier League with a team that can utilise his talents.
The final hurdle would be convincing McAtee to drop down a division, though the prospect of being a star player in a promotion push could be a compelling long-term career move. If both clubs can agree on the cash adjustment, this bold swap could be concluded before the January window closes.
