Wolves chief Jez Moxey feels the first weeks of the January market will be a hard slog.
Moxey can't see much spending.
"Apart from the really big clubs, no-one seems to have any money," said Moxey. "The message we're getting is that there is that there is very little money around in the marketplace.
"Outside of the really big clubs, I think we're seeing already the fact that not much money's going to be spent. I think it's a reflection of the economy generally."