The teenage midfielder is regarded as the hottest young prospect in the Scottish Premier League and has attracted attention from the likes of Celtic, Wigan, Portsmouth, Swansea and Reading.
It is, though, Wolves that have upped the ante by tabling a £1million bid that they will reportedly withdraw if not accepted by the Lanarkshire outfit on Tuesday.
Ireland Under-21 star McCarthy admits the speculation that surrounds his future is an unwanted distraction but that after initially being sceptical about a move south, he is now warming to the idea.
"I'm trying to keep my head down and work away at training," he told the Daily Record.
"But sometimes it's frustrating not knowing where you will be when the season starts.
"I'm happy to stay with Hamilton for another season but if there is a bid that's satisfactory for the club and me then I'll talk about that.
"At first I thought I wanted to stay in Scotland but now I'm relaxed about the idea of going down south if that's what
"It's a bit annoying at times not knowing what's going to happen but I'm trying to concentrate on getting fit for the new season, wherever it starts for me."