Wolves could make Tottenham Hotspur midfielder Alex Pritchard their first signing of the new era under incoming owners Fosun International.
Pritchard is rated at £8million by Spurs, despite an unsuccessful loan spell at West Brom last season where he played just 70 minutes of first-team football.
Swansea City would like to keep the 23-year-old in the Premier League, but a host of Championship sides would also like to borrow him from White Hart Lane.
Wolves' change of situation might make them attractive but Newcastle and Norwich, who have recently dropped down from the top-flight, are also interested.
West Brom are likely to have an improved second bid of £10m for Leicester City full-back Jeffrey Schlupp rejected by the Premier League champions.
The Foxes are not keen on selling - and Albion might to have offer the same figure if they turn their attentions elsewhere to Brighton defender Lewis Dunk.
The Championship Seagulls aren't budging on their asking price on the tall stopper, 24, who is under contract at the Amex Stadium for the next two years.
Aston Villa are among the favourites to land Leicester City right-back Ritchie De Laet, who is likely to be deemed surplus to requirements at the King Power Stadium.
The Belgian, 27, spent time in the second tier last season and helped Middlesbrough to promotion, before returning to his parent club come the end of the campaign.
De Laet has terms with City until the summer of 2018, but could become available after being loaned out. Villa boss Roberto Di Matteo is thought to be keen on him.
Walsall will make a decision on whether to take young West Brom forward Tahvon Campbell to the Banks's Stadium on loan from West Brom.
The Baggies teenager, 19, figured for the Saddlers on trial earlier this month and played one half of a behind-closed-doors friendly against Norwich City.
Campbell has already served non-league Kidderminster Harriers and Yeovil Town, where he scored his first professional goal against Crawley in January.