Wolves chief executive Jez Moxey says the club have made "one or two bids" for players as they aim to bring in new blood during the January transfer window.
Aston Villa midfielder Craig Gardner, Sheffield United central defender Matthew Kilgallon and Middlesbrough winger Adam Johnson are on Wolves manager Mick McCarthy's radar as his side entered the new year lying in 15th spot with 19 points from 20 games.
Moxey said: "We have made one or two bids for permanent signings and started the process to hopefully add a couple of players."
He added: "We're always hopeful but it's never easy and there's nothing doing at the moment because nothing is straightforward on any deal and everyone has to be patient.
"We will not divulge targets, but after consultation with Mick, I've made a number of enquiries over the last week and we would hope to try to bring in one or two players. We've made some bids and we hope we can add Premier League experience.
"We will continue to strive to formulate a squad containing two high quality players for every position. But we will try to do business for what we believe is the right player at the right price."
Johnson's qualities have been admired by McCarthy for some time and the 22-year-old has already netted 10 goals during the current campaign.
And Villa boss Martin O'Neill has admitted he may struggle to keep hold of Gardner who is desperate to play first team football and is also a target for Birmingham.
Wolves have already added £750,000 to their transfer pot following the sale of Neil Collins to Preston on a three-and-a-half-year deal.
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