The Daily Star says Wolves boss Stale Solbakken admitted he would be prepared to sell Fletcher and Jarvis.
Solbakken said: “You have to be open minded and ready for every outcome. I think both of them are.
“At the moment they are Wolves players but there can be big fish out there who come in with a once-in-a-lifetime offer for them, and also a very good deal for the club.
“We have to make sure we’re ready for that. Jarvis and Fletcher are good, attractive players, and know they can attract interest from the Premier League clubs. They probably think there’s an opportunity.”