Former Wolves and Manchester United defender Denis Irwin says there's no reason for concern after Birmingham City won the race for Coventry defender Scott Dann last week.
"It's not easy because they are in the same market for the same players and a lot of them will take an easy punt on a different team, but Mick (McCarthy) can convince them to come," said Irwin, who made 85 appearances for Wolves between 2002 and 2004.
"With Steve Morgan behind them hopefully they'll have more money and if they sign two or three quality players, added to the decent squad they've got they've got a good chance."
The Irish legend added: "If you're going to have a good go you might as well have a proper go and the minimum they should spend it between £12 and £15m. I felt when I was there they didn't really make a big enough effort to stay up.
"It's not much but if they sign three quality players at £4m each added to what they've got already it will be good.
"Sylvan Ebanks-Blake hasn't been tested at this level, but he's a great player has shown he's a goalscorer, and you need someone to score goals if you're going to stay in the Premier League."