Birmingham midfielder Charlee Adams has signed a new one-year contract with the club.
Southampton are confident Jay Rodriguez will commit to a new long-term deal but the player will consider his options.
Steve Clarke believes funds will be available in January to help try and sustain West Brom's flying start to the season.
The Baggies have lost their last two games but are still lying in fifth spot in the Barclays Premier League.
But head coach Clarke has already spoken with Albion sporting and technical director Dan Ashworth about possible replacements.
He said: "There's a possibility we lose a couple of players to the African Nations Cup, we could lose players to injury, but when we get closer to the end of the month we'll start to make decisions.
"I haven't really discussed with the chairman (Jeremy Peace) about the way forward in January. That's why we have a technical director.
"He's the buffer. We have spoken about what we might need to do in January.
"If the chairman, Dan and I decide we need to strengthen the squad. then we can do that. Is there money there? Yes I think it is."
Clarke insists his faith in his entire squad is unaffected despite a much changed line-up being beaten 1-0 at home by Stoke on Saturday.
He left out the likes of Odemwingie, Romelu Lukaku, James Morrison and Chris Brunt to freshen up the side for their third game in eight days.
Clarke said: "I can't keep saying I've got a good squad then pick the same players every week.
"Then I become a liar. I can't tell the players I trust them all the same and then not do that."