The Hoops boss has confirmed the club have accepted an offer from Southampton for their midfielder but is expecting further bids as the race to sign the Kenyan hots up
Goal understands Liverpool, Everton and Cardiff have joined Southampton in the race to sign the midfielder after the Scottish champions accepted a bid from the Saints for the midfielder.
Lennon says he thinks a transfer to St Mary's would be a good move for his player but is expecting more bids from other interested clubs.
"What we have done is accepted a bid from Southampton, who are a very good club, a very progressive club," he said.
"Personally, I think it would be a very good move for Victor in terms of his career going forward but there seems to be other bodies who want to block the deal.
"The ball is firmly in the court of Victor's representatives. You don't know what's around the corner. I would imagine there would be other interested parties but we've had no confirmation from any other clubs yet."
Wanyama's representatives have accused the Scottish champions of trying to force the midfielder into a transfer, but Lennon says he feels Southampton’s offer is good.
"The fact that we have accepted a bid tells you that we feel that matches our valuation of the player,” he added.
"We don't know where we are with it at the minute, there seems to be a bit of a stand-off.
"We felt the money was right for us, a good business deal for the club. Whether it resurfaces again, I don't know."