Liverpool and Manchester United both registered a firm interest in signing the 18-year-old, but the EFL Championship side were unwilling to offload the teenager, as per TEAMtalk,
Both clubs kept Mane on their transfer radar throughout the summer with Liverpool holding a slight edge over their old rivals in the race for his signature.
The Reds considered a deal to land Mane as a permanent signing, but loan him back to Wolves for the 2026/27 season, as the West Midlands club dug in with their resolve to keep him at Molineux.
Mane will not push for an exit in 2027, even if Wolves miss out on their goal of instant promotion back to the Premier League, but he will consider offers as they arrive.
Liverpool will keep their options open on the Portuguese born winger with Wolves prepared to demand at least £25M.