Reports have suggested that Everton are interested in signing former Liverpool player Coady, but the Express & Star understands that Wolves are yet to receive a bid for him.
The 29-year-old has been a regular in the England squad for the last two years but could see his place in jeopardy as he looks set to start the Premier League season on the Wolves bench.
With the World Cup starting in November, Coady will be desperate to be on the plane and will need regular Premier League minutes go make sure of it.
As a result, the Express & Star understands that Coady could depart Wolves this summer for the right move.
The player has been a great servant to the club for the last seven years and with a World Cup on the horizon and his Wolves place not guaranteed, the club could be open to letting him go to allow him the minutes he needs to make the England team.
It is also understood that this move could be a loan, for a player who is under contract until 2025.
Wolves are currently well-stocked at centre-back with Max Kilman, Nathan Collins, Willy Boly, Toti Gomes and Yerson Mosquera all with the squad.
The move to a back four means Coady has been left out of the starting XI for key games in pre-season and he is unlikely to start against Leeds on Saturday.
However, any potential move could drag on late into the window as Wolves assess their options and determine how Lage wants to set up for the season.