Wolves have rejected a player-plus-cash offer from Newcastle involving Elliot Anderson and Max Kilman, talkSPORT understands.
Gary O’Neil’s side would be tempted to sell the centre-back should they receive offers in excess of £45million this summer.
An opening bid of £25million from West Ham has been turned down by Wolves, with Newcastle also interested in Kilman.
It is understood that they have made a player-plus-cash bid but this too has been rebuffed by the West Midlands outfit.
The deal would have seen Newcastle youth product Anderson leave Molineux and move to St James’ Park.
He made his first-team debut for the Magpies in January 2021 and has featured a total of 55 times for them in midfield.
Anderson spent a large chunk of the 2023/24 out with a back injury but returned in time for the final three months.
The Daily Mail have reported that he wants to stay at Newcastle and is hopeful of discussing a new contract.
Wolves captain Kilman has made 151 appearances for the club since signing from Maidenhead in 2018.
A move to West Ham would see him reunite with Julen Lopetegui, who made him skipper at Molineux in the 2022/23 season.
Kilman’s current deal runs until 2028, with a big fee therefore set to be required from any interested club to complete a deal.
West Ham have already been active in the summer transfer window having signed 18-year-old winger Luis Guilherme from Palmeiras.
talkSPORT understands they are interested in Udinese defender Nehuen Perez, and Lopetegui is keen to reunite with Sevilla striker Youssef En-Nesyri.
Newcastle have signed Lloyd Kelly after he left Bournemouth, with the centre-back rejecting European interest to sign a five-year deal.
Eddie Howe’s side are also set to complete the permanent signing of Lewis Hall from Chelsea for £28million through their obligation to buy clause from his loan spell last season.