Wolves manager Mick McCarthy hopes to land the St Etienne midfielder Guirane N'Daw on a season-long loan.
McCarthy had been hoping to bring the Senegal international to Molineux on a permanent deal but, having been unable to sell many members of his first-team squad this summer, knows there are limited funds available.
The 26-year-old former Nantes player has featured in 34 games for St Etienne having previously played in more than 100 matches for Sochaux and 32 for the Canaries.
Chief executive Jez Moxey said: "We're putting together a really good team and we'd probably like to bring one more in. Whether that deal is on loan is a possibility, but we may have to sell some players to raise some cash."
McCarthy has said in the past that he is willing to listen to offers for Andy Keogh, Stefan Maierhofer, Matt Hill and Greg Halford.
Maierhofer is being linked with a season-long loan switch to a German second division side in Duisburg.