The form of Perez has piqued the interest of Valencia who may test Newcastle United's resolve with a bid for the Spanish forward this summer.
And according to COPE, the 25-year-old is thought to be open to a move back to Spain after five seasons in the Premier League.
Rafael Benitez will be reluctant to lose such an integral part of his squad though, especially given his form towards the end of 2018/19 and a promising partnership with January signing Miguel Almiron starting to develop.
Added to that, Salomon Rondon has returned to West Brom following the end of his loan.
Benitez remains keen to sign the 29-year-old on a permanent deal, but with his own future yet to be resolved there's a real possibility neither of them will return to St James' Park next season.
The Express and Star report that Wolves are in pole position to sign Rondon, with the striker having just one year left on his contract at The Hawthorns and a £16.5m release clause.
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