Wolves have rejected a £25m bid from Nottingham Forest for midfielder Morgan Gibbs-White.
Newly promoted Forest have signed 12 players so far this summer to mark their return to the Premier League.
However, Wolves are keen to keep the England Under-21 international who spent last season on loan with Sheffield United, scoring 11 goals in 35 Championship games for the Blades.
The offer is understood to include add-ons.
"We rejected because he's an important player for me, my dynamic and the future. He feels important, he is happy," Wolves manager Bruno Lage said.
"When you have this connection between manager and player, everything is good. He is fit and motivated."
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