Wolves have announced the signing of forward Stephen Hunt from Hull, for an undisclosed fee.
Hull rejected a £5million bid from Mick McCarthy's side in January, but Hunt later revealed he struck an agreement with chairman Adam Pearson that he would be allowed to leave if the club failed to stay in the Barclays Premier League.
The Republic of Ireland international was one of the Tigers' most saleable assets.
Hull's financial troubles following their relegation mean they must slash their wage bill in preparation for football in the npower Championship.
Hunt's contract at the KC Stadium was due to run until 2013 - but Wolves have beaten off reported interest from Premier League newcomers Newcastle and West Brom to sign the 28-year-old.
He is Wolves' fifth signing of the summer, following Steven Mouyokolo, Jelle Van Damme, Steven Fletcher and Adlene Guedioura in sealing moves to the Molineux club as McCarthy bids to build on 15th place they achieved on their return to the top flight.
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