Wolves turned down an 11th-hour bid from Celtic for striker Kevin Doyle as the transfer window shut without new arrivals at Molineux.
Boss Dean Saunders tried for Blackpool defender Alex Baptiste and Birmingham pair Curtis Davies and Marlon King among others.
But neither club wanted to let their players go and Villa’s England left-back Stephen Warnock joined Leeds.
Wolves also turned down a £1m offer from Crystal Palace for Sylvan Ebanks-Blake and a £300,000 bid from Nottingham Forest for Stephen Ward.
As reported in later editions of last night’s Express & Star, Celtic were keen to take Doyle – it was initially thought as a replacement if they sold Gary Hooper.
But, after turning down four bids from Norwich for their 22-goal top scorer, Celtic also launched a loan enquiry for Doyle.
That was rebuffed by Wolves because it left Saunders no time to land a replacement in the hours before last night’s 2-1 defeat at Leicester, when Doyle was an unused substitute.
“We had something going on with Celtic for Kevin Doyle which we rejected,” said Saunders.
“They made an offer for a loan, three or four hours before kick-off I think, and we turned it down. We’d have needed more than three or four hours to replace him.”
The £6.5m forward, who is contracted to 2015, could now move on in the summer as Saunders looks to rebuild for next season.
Fans are frustrated at the lack of transfer activity to revive a struggling team but Saunders admitted Wolves had made offers.
“I’ve tried to get some players in but there aren’t that many to choose from better than what we’ve got who we can afford.
“We made offers for a couple, but the clubs were reluctant to let them go.
“Some in the Premier League are on £40,000 or £50,000-a-week and we can’t pay that.
“We also weren’t able to match what the clubs wanted because it’s that time of year when they add 30 per cent on top.
“I didn’t want Sylvan to leave so the club turned down a good offer.
“You need a goalscorer when you’re struggling and Sylvan is our top scorer. And Stephen Ward is our only fit, senior left-back.”
Winger Johnny Gorman has joined Blue Square Bet Premier side Macclesfield on loan.