At the end of the month, Moutinho and Costa will depart from the team.
When their present contracts end, Joao Moutinho and Diego Costa will leave Wolves, though Adama Traore is still negotiating a contract extension.
Both the 34-year-old Spanish striker Costa and the 36-year-old Portuguese midfielder Moutinho will formally leave the Premier League club at the end of this month, according to Matt Hobbs, the club's sporting director.
According to Hobbs, Joao will go down as one of the greatest players to ever don the old gold, as stated on the club's official website.
"During his entire stay, he was a crucial member of the team. He has been crucial to our success over the past four or five years. He now leaves the football club with nothing but gratitude.
We express gratitude to Joao for his work at Wolves and wish him luck in the future.
Moutinho joined the team in July 2018 from Monaco and played 212 times for Wanderers.
Hobbs continued, "It feels the appropriate moment to part ways because he was on a one-year contract. Costa was a former Atletico Madrid and Chelsea frontman. We had some internal discussions and decided that this was appropriate.
"I have no doubt that Diego will join another team as a result of his performances. I'll only sing his praises if a club calls me to inquire about him.
However, manager Julen Lopetegui is desperate to keep the 27-year-old, and talks are underway. Traore may still have a future at Molineux.
Hobbs stated: "Conversations will continue even if he is no longer under contract because there is still time to reach an agreement. He most likely has a right to know what else is out there.
Even if it's not always possible, we'll try our best. We hope to reach an understanding, but let's wait and see what transpires over the coming weeks.
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