Wolves pay Burnley £6.5m for Fletcher

The fee makes him the second most expensive Scottish striker, behind Duncan Ferguson (Everton to Newcastle for 7m) and just ahead of James McFadden (Everton to Birmingham for 6m). And Hibs stand to benefit to the tune of over 500,000 from the transfer, having included a sell-on clause when the player was sold to Burnley last year.

The 23-year-old, who has signed a four-year contract with the option for a fifth year, scored eight goals in 35 Barclays Premier League games for a Clarets side which suffered relegation.

Wolves chief executive Jez Moxey said: "We are delighted to complete the signing of Steven Fletcher. He was one of Mick McCarthy's main targets for the summer and – just like last season with Kevin Doyle – we were able to register our interest early and get the deal done.

"He is a Scottish international who has been heavily scouted by our management and scouting team and is an excellent player whom, despite his relatively young age, already boasts plenty of experience at the top level in both England and Scotland."