Daniel Podence has returned to Greek side Olympiacos on a season-long loan, having signed a new contract at Wolves before his departure.
The wide man has spent the past three-and-a-half years at Molineux, following his first spell with Olympiacos, but having not featured for Wolves so far this season, Podence returns to Athens.
The loan comes alongside the news that Podence has signed new terms with Wolves until 2025, with the option for a further year’s extension, protecting the Old Gold in the future.
Podence now has 105 Wolves appearances to his name and 16 goals, six of which came last season, as he helped retain the club’s Premier League status.
However, the 27-year-old will now return to the Greek Super League, where Olympiacos have won all three of their opening matches this season.
Sporting director Matt Hobbs said: “It’s no secret that Daniel was keen to look at new options this summer, but nothing came which suited us or Daniel, but this is an opportunity for him to go back where he was and play European football, and he was great in understanding that for us to allow it, he had to sign a contract.
“There’s still a possibility Daniel comes back and plays for Wolves again, but it was the right time to let him go and play this season. He can either come back after the season or we’ll be negotiating next summer with a player with a longer contract. He was respectful and didn’t push back – he was happy to protect the club. We’ll stay in touch this season, and I want him to do well, to either come back and play for us in good form or maximise his value.
“This has been on the cards since January, when Julen was here, that he could leave in the summer, but he wasn’t going to leave for anyone. He had offers from the Premier League, but he didn’t want to go, but with this opportunity European football was a big pull. It works for all parties. They get a good player on loan and we protect ourselves with no costs from this year. It was a palatable situation for all parties.”