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.
Newcastle boss Alan Pardew has admitted he would still like to re-sign England striker Andy Carroll.
The Magpies launched an audacious cut-price bid to recapture the 23-year-old, who they sold to Liverpool for £35million in January 2011, when it became obvious he had little future at Liverpool under new manager Brendan Rodgers this summer.
However, the Merseysiders opted instead to loan the player to West Ham, with whom he will return to St James' Park on Sunday.
But as he prepared to welcome the 6'3" striker and midfielder Kevin Nolan back to Tyneside, Pardew revealed he had not given up hope of clinching a permanent deal for the former.
He told BBC Sport: "He's a Liverpool player and not wanted so at some point he's going to move permanently.
"I'd like to think we'll be in the mix for that."
Indeed, Pardew revealed he would happily take both men back if the financial side was right.
He said: "Big Andy hopefully one day will want to come back and certainly I'd like to have them both in my squad now because we would be stronger for it.
"But obviously finances restrict me from doing that."
Pardew had earlier admitted Carroll's "astronomical" fee had paved the way for the club's recent success.
There was fury in the city when, despite the manager's repeated assertions to the contrary, Carroll was allowed to swap the north east for Anfield.
The powerful frontman is currently attempting to rebuild his reputation under former Newcastle manager Sam Allardyce, but Pardew believes the proceeds of the initial switch were central to what has been achieved since.
He said: "The position we are in, if I'm honest, is because we used the money from Andy's sale well.
"He was a brilliant player for us, but the fee was astronomical. We have used it well and we owe a great debt to him.
"It's nice to see Kevin come back. He did a super job here. Whatever he was asked to do, he conducted himself well. And he gets a goal. He has proven that at any level, he will get a goal.
"I'm looking forward to seeing them both and I enjoyed working with them.
"There will be a lot on the game. Kevin will be determined to get a result, as will Andy and the manager coming back."
The likes of Yohan Cabaye, Demba Ba and Papiss Cisse have been recruited since Carroll and 30-year-old Nolan left the club and while Pardew is well aware of the pair's individual talents, he has no complaints over his lot after guiding the club to a fifth-placed finish in the Barclays Premier League last season and back into Europe.
He said: "Both of those players would be good additions to this squad, but players have to move on for the sake of the team. That's the Andy Carroll one.
"Kevin was a bit different, he wanted a long contract we wouldn't commit to, but he got one at West Ham.
"He deserves it because he is a great player, but the board didn't think the long contract for Kevin was something he would get here."
Having registered their interest in Carroll during the summer, Pardew at one point believed there was a chance the Magpies would get him.
He said: "Yes, I thought there was a possibility of it.
"We were in there because he brings something different to the table to what we have got and we could probably do with another striker.
"We were right in there, but unfortunately we weren't able to get it done at board level."