Bruno Lage’s side have also been linked with the Portugal youth international and could have some serious money to play with soon.
According to a report by Sky Sports, the Midlands club are letting Gibbs-White head out the exit door to the City Ground for a fee worth up to a mouth watering £42.5million.
Wolves and Newcastle are both said to be keen on luring Ramos to England to bolster their respective attacking options.
In a latest update by talkSPORT though, Southampton are said to be in the race to sign him now and are ‘exploring’ a potential move.
The 21-year-old has been on the books at Benfica since 2013 and has risen up through the youth ranks of the Portuguese giants.
He broke into their B team in around 2019 before he started to enjoy some more first-team minutes on a regular basis last term.
Ramos has now made 64 senior appearances to date and has chipped in with a useful 19 goals.
Wolves are no strangers to delving into the Portuguese market for talent and after loaning out Fabio Silva to Anderlecht earlier in the window, they have a vacancy to fill up top.
They have a big decision to make on who to sign when their funds for Gibbs-White are received and they will certainly find themselves in a much stronger position on the transfer front, which could be a blow to Newcastle’s hopes of signing Ramos before the end of the month.