Fofana, who is 22 years old, is one of several players that Chelsea is trying to sell before the end of the summer transfer window.
He joined Chelsea from Molde, a Norwegian football club, in 2023 and has since been sent on loan to different teams, including Union Berlin, Burnley, and Goztepe.
Wolves are interested in signing Fofana permanently, but it may not be easy. Another French club, Toulouse, and Nice are also interested in signing him.