Jed Wallace has agreed a switch to Wolverhampton Wanderers.
The 21-year-old today finalised contract details for a three-year deal in a switch to the Championship club for an undisclosed fee.
However, it is understood Pompey will receive around £275,000 following the activation of a buy-out clause in the contract he signed last summer.
Wolves have beaten Fulham, Sheffield Wednesday, Charlton and Ipswich in the race for the highly-regarded 21-year-old.
New boss Paul Cook and chairman Iain McInnes had already admitted to The News the youngster would be leaving Fratton Park this summer following failure to win promotion from League Two.
Wallace scored 30 goals in 121 matches for Pompey after coming through the Academy.
Pompey will now prepare to unveil Kyle Bennett to help fill the gap of Wallace’s departure.