The 22-year-old is attracting plenty of interest from Premier League rivals – including Everton, Crystal Palace and Nottingham Forest – but the Express & Star understands Wolves are eager to make him an important player in the first team squad.
Gibbs-White impressed on-loan at Championship outfit Sheffield United last summer, where he notched 12 goals and 10 assists in a campaign where they reached the play-offs.
As a result of his 2021/22 campaign, the England under-21 international is wanted by a number of clubs.
Everton made a move for his signature, which was swiftly turned down, and reports have suggested Wolves would only consider selling for a fee closer to £30million. It is unclear if Everton will make another move for him, but Toffees boss Frank Lampard is believed to be an admirer of Gibbs-White.
Wolves offered the Stafford-born midfielder a new contract in May, which he is yet to sign, but the Express & Star understands the club are intent on keeping him this summer regardless of whether he signs that deal.
That contract offer is not a deal-breaker and was instead a show of faith in a player who has matured and improved in the last 12 months.
Head coach Bruno Lage is a big fan of the attacking midfielder – who has also played as part of a front three – and originally did not want to let him go on loan last summer.
Lage then offered Gibbs-White the chance to return in January but he chose to stay with the Blades, and Wolves are now eager to keep him this summer.
He scored in the 3-0 friendly win over Burnley on Saturday.