Wolves were the second-highest spenders across the Premier League in the January transfer window, yet their best piece of business was arguably securing the short-term future of Matheus Cunha as they fight for survival.

Cunha signed a new four-and-a-half year contract on Feb 1 which includes a £62.5 million (€75m) release clause guaranteed to make him a club record sale for Wolves when he departs.

The Brazilian is understood to now be Wolves’ best-paid player and the new deal was regarded as a reward for his stellar performances this season.

Cunha had verbally agreed the new deal last month, amid interest from Arsenal and Aston Villa, though there were no inquiries over a potential deal in the January window.

The release clause was inserted after talks with Cunha’s representatives and he can leave this summer if the £62.5 million figure is triggered.

Wolves’ current record sale is the £54 million [after add-ons] for Portugal international Pedro Neto, who was signed by Chelsea in August last year.

While Cunha’s new contract was a huge positive for Wolves as they battle to avoid relegation, more than £40 million was also spent on three new signings.

Emmanuel Agbadou was a £16 million arrival from Reims and the centre-back has already been named as Wolves’ Player of the Month for January.

Agbadou has added physical presence and leadership qualities to a defence that was conceding too many goals under Vitor Pereira’s predecessor Gary O’Neil.

Marshall Munetsi and Nasser Djiga also arrived on deadline day in deals worth £16 million and £10 million respectively, after undergoing medicals at the American Hospital of Paris.

Wolves staff, including the club’s director of football operations Matt Wild, flew out to the French capital early on Monday to complete the deals.

Djiga has been on the radar of Wolves’ recruitment team for more than two years while Munetsi was prioritised by Pereira as a powerful defensive midfielder to replace Mario Lemina, who has joined Galatasaray.

Fosun, the club’s owners, have come under criticism this season but were only behind champions Manchester City on spending. Supporters are hoping the investment has not come too late.

Their backing for Pereira was in stark contrast to fellow strugglers Leicester, who spent just under £2 million as they scrap to comply with the Premier League’s profitability and sustainability rules [PSR].

Wolves did initiate talks with Leicester over a surprise swap deal including former captain Conor Coady and Craig Dawson, but received no encouragement from Leicester.

Coady spent seven years at Molineux during a successful period in the club’s history when they were promoted from the Championship to the Premier League and also competed in European competition.

Wolves, meanwhile, are optimistic that Pereira can lead the club to safety and have been impressed with the Portuguese since his appointment.

Soon after his arrival in December, he insisted on all players eating together at meal times in the canteen, which is a throwback to the culture built by another Portuguese manager at Wolves in Nuno Espirito Santo.

Pereira has also introduced overnight stays in a hotel before home matches to strengthen team spirit.

Players and staff have noted his clarity of messages in training, and how he has implemented a clear style of play in which all players know their roles.

He displayed a no-nonsense approach with Lemina, who told the club early in January that he wanted to leave.

Pereira implored Wolves to find Lemina a new club, and he did not select the Gabon international for any matches while his future was up in the air.

Wolves return to league action next weekend with a daunting trip to leaders Liverpool on February 16, but there is renewed confidence after their transfer business and the 2-0 victory over local rivals Aston Villa.

Wolves have 14 games left in their survival mission and optimism remains that their seven-year existence as a Premier League club will be extended beyond May. It seems inevitable that Cunha will play a crucial role in where the club finishes.