The head coach is determined to keep the 22-year-old forward and Wolves have so far turned down three Nottingham Forest bids – and it is understood the newly promoted side are now not entertaining another approach for the time being.
Gibbs-White has been offered a new deal but has yet to sign it and Lage hopes they can come to an agreement – but says Wolves must avoid a situation where he runs his contract deal and leaves for free.
“I want him, but we need to understand that one thing is what I want and the other thing is the question of the market,” Lage said.
“We cannot have players that go until the end of their contract like Adama (Traore). He is very happy and will play for us, but in one year he is free.
“I also need to understand that part from the club and the fans need to understand it too. If we keep the players and then they go and we have nothing to replace.
“We are trying to do our best. I want to keep all the players with me, but in the end we need to find the right balance.
“Morgan is a player that in two or three years can be one of the best players in the country. Wolves want to keep him and he wants to play for Wolves, now we need to find the best deal and the club has time to talk with him.
“I’ve already spoken with him and lets hope we finalise the situation.”
Following the £27.5million arrival of Goncalo Guedes, some fans have suggested that could lead to Gibbs-White’s departure, however it is understood the club are still keen to keep him.
And Lage has echoed that, saying they can play together and Guedes would not be a replacement due to stylistic differences.
He added: “They are different players. Morgan is a special boy and he still has a two-year contract with us.
“He is happy. The way he played against Leeds was very good. The way he is training since day one makes me happy, so I am happy with him.
“They are different players. Morgan is more of a midfielder. Maybe they arrive in the same positions, but they start at different points.
“Morgan starts more from the back, Guedes is more in front. They can play together.”
Wolves are still working on incomings and are keen on bringing in a striker, midfielder and potentially a centre-back.
Having already spent £48million this summer, Lage is eager to make more permanent signings and is confident that, in time, Wolves can bring in the right players before the transfer deadline.
When asked if the club may now look at loan signings, Lage said: “No. We have good expectations that good things can happen.
“Sometimes it’s hard for me to be the guy in the middle because people maybe expect that we are protecting someone – no.
“Now it’s time to talk to the fans – be patient and trust us. I am making a lot of pressure.
“I signed on June 7 (last year) and since that day I have been talking about Guedes, after 14 months the boy is here.
“Have patience, faith and believe in our work. At least believe in me because I want what the fans want. I make a lot of pressure and convince people that we can bring the right players to be a better squad and continue to improve.
“It’s not about loans, it’s about finding the best solutions so by the end of the transfer window we have the right squad, and so the fans will be proud of the squad they have.
“I said it on Friday and after three days we came with Guedes. Trust in us, that’s what I ask, trust in us and the work we are doing.”