It is claimed that the Premier League is now the only possible destination for the Colombian international due to the coronavirus pandemic disrupting the economic situation across Europe.
The report claims that Everton are the option that appeal to James the most with boss Carlo Ancelotti – who managed him at both Real Madrid and Bayern Munich – said to be a big factor.
A report in to El Desmarque said Wolves are hoping to use their connections with super-agent Jorge Mendes, who is the representative of the Colombian international.
Mendes is said to be hopeful of reducing Madrid’s asking price of €80m for the out-of-favour player and the growing financial clout of Wolves is making a move possible.