Jody Craddock has penned a new one-year contract with Wolves.
The centre-back, 35, was offered a new deal after helping Wolves to survive in the Premier League for a third successive season.
Craddock has now finally put pen to paper and knows he will face competition for his spot.
He said: "It's good news that the contract is all done and dusted and I can concentrate on the year ahead.
"This time last year I was thinking it would be my last season so to get another 12 months is a big achievement."
Craddock added: "There may be competition but it's never a problem for me when a new centre-half comes in.
"It's all about what benefits the club. If I have to scrap it out with another centre-half, so be it.
"I just need to give myself the best opportunity to be involved at the start of the season."