Kenny Jackett is searching for a player who can give Wolves 'another 10 to 15 per cent in terms of quality'.
Neil Adams says Norwich remain in the market for further additions after signing Cameron Jerome and Carlos Cuellar.
Liverpool boss Brendan Rodgers has confirmed the club are in talks with Cardiff to let Craig Bellamy return to south Wales.
The 33-year-old has just completed his Olympic Games duty with Great Britain but is now keen to return home for the final years of his career.
"We have been in talks with him and Cardiff," said Rodgers.Rodgers revealed he spoke to Bellamy during the early stages of the summer, where the striker revealed his desire to be back closer to his family.
"I had a really good meeting with Craig before I moved up here," said Rodgers.
"He is a big Liverpool supporter but I also understand his thinking.
"He is 33 and has travelled around the country all his life, so there are compassionate reasons.
"We will look at it but we will wish him all the best and move forward."
Rodgers has also confirmed Liverpool would have to receive an acceptable bid for defender Daniel Agger, who has been the subject of interest from Manchester City, before they would consider parting with the Denmark star.
"Daniel is a top player and you do not want to lose your best players," said Rodgers.
"He has been here seven years. He loves the club and its supporters.
"But every player has his price and we will see where it goes."
There has also been plenty of speculation surrounding record-signing Andy Carroll.
However, Rodgers spoke positively about the £35million forward, even if it does seem increasingly likely he will leave the Anfield outfit before the transfer window closes on August 31.
"Between now and the end of the window there are going to be players feeling a little bit unsure and insecure," he said.
"There is a new manager and more players to come in.
"But Andy has been terrific. He knows exactly where he stands. He is like everyone else. He has to fight for their position. There are not many clubs you could go to and be a guaranteed starter.
"I understand Andy wants to play games. But he really enjoys it here.
"I have had a number of conversations with him and we will see how that develops."
One player who is going nowhere is Uruguay forward Luis Suarez, who signed a long-term contract yesterday.
"There was genuine interest from other clubs," said Rodgers.
"I had only just come through the door when a fax came through about him.
"It is brilliant that someone of that quality has agreed to stay with the club. It is great for the Premier League.
"It is a new beginning for him.
"There are very few world class strikers around. He is a very important signing for the club.
"He is still young and has his best years ahead of him."