Flamengo are close to reaching an agreement to renew Wallace Yan’s contract, [according to insider Venê Casagrande](https://www.torcedores.com/noticias/2025/07/vene-casagrande-diz-que-flamengo-esta-perto-de-renovar-com-wallace-yan-e-explica-multa-barata?utm_source=torcedores_tw&utm_campaign=social&utm_medium=fmkt).
Speaking on SBT Sports, the Brazilian journalist explained that the 20-year-old forward should receive a salary increase, which will automatically trigger a rise in his release clause for both domestic and international markets.
Wallace Yan, who impressed during Flamengo’s campaign at the Club World Cup, had recently been strongly linked with a move to Wolverhampton.
However, despite speculation in Brazil that a deal was already done, multiple sources – including the player’s own camp – have denied any completed transfer or ongoing negotiations with the Premier League side.
Casagrande reinforced that no bid has arrived from England and that Flamengo’s main objective now is to protect themselves by improving the terms of the player’s contract.
One concern previously raised by the club’s fans was the affordability of his release clause within the Brazilian market, due to it being based on a modest salary. The renewal would address that issue.
Wallace Yan is currently tied to Flamengo until 2027 and remains fully involved in the club’s day-to-day activities.
At this stage, no transfer has been agreed, and the forward is expected to stay unless a formal offer changes the scenario.