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.
The Spanish forward has had a sensational debut campaign in the Premier League, and he capped that with a goal in Swansea's 5-0 Capital One Cup final win over Bradford at Wembley on Sunday.
Michu has already penned a new long-term deal at the Liberty Stadium, but is constantly linked with moves away.
But he insists he is happy with Swansea and, when asked if he would remain at the club, he told Sky Sports: "I don't know, I hope to stay here.
"I am very happy at Swansea, and this being my first title, I am in a dream here - I always say the same.
"It was a great performance, and our first title in the history of the club and my first in my career.
"The five-goal difference is good and it is good for me to score, when you win a title it is normal you stay happy."
Michu was in the middle of Nathan Dyer and Jonathan De Guzman's argument over who should have taken the second-half penalty to give Swansea a 4-0 lead.
Two-goal Dyer, who wanted to convert to secure his hat-trick, lost out and Michu admits he would have given the ball to him.
"They are good friends now, we are a family here - it is all good, the most important thing is the team," he added.
"I understand Nathan, two in the final and he wants to score a penalty - if I had had the ball I would probably have given it to Nathan."