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Wolves manager Mick McCarthy is reportedly waiting for the go-ahead from chairman Steve Morgan to sign Robbie Keane and Joleon Lescott.
McCarthy is hoping to snap up both players from Tottenham and Manchester City respectively, for a fee in the region of £15 million.
According to the Daily Mirror, the two former Wolves stars are wanted back at Molineux, and McCarthy is keen to send out a strong message as his side look to avoid relegation.
Keane has been notified that he can leave Spurs in January for £5m, with clubs such as Blackburn, Aston Villa and Birmingham City also wanting to sign him.
Lescott has outwardly expressed his feeling that he would like to leave Eastlands after being left on the bench in favour of Vincent Kompany and Kolo Toure.
Despite him costing £20m when he moved to Manchester, Wolves want to purchase him for 50 per cent of that price.
As well as the two former Wolves players, the ex-Ireland boss also has his eye on Lescott’s fellow City player Michael Johnson.
The 22-year-old injury prone midfielder is rumoured to be allowed to move to Wolves until the end of the current season on loan.