Wolves have turned down a £50m offer from Newcastle United for striker Jorgen Strand Larsen, underlining their determination to keep the Norway international.
Strand Larsen, 24, joined Wolves permanently for £23m last month after a successful loan spell in which he scored 14 goals.
Manager Vitor Pereira described him as “a very important player” and insisted the forward remains fully committed.
Newcastle are desperate to bring in a centre-forward after Callum Wilson’s departure at the end of his contract.
The club has already seen two bids for Brentford’s Yoane Wissa rejected, with the Bees now confident of keeping the DR Congo striker.
The Magpies’ search has been complicated by Alexander Isak’s uncertain future.
The Swedish striker is training separately after expressing a desire to join Liverpool, though Newcastle insist their valuation will not be compromised.
Anthony Gordon was deployed as a makeshift striker in Monday’s defeat to Liverpool but was sent off, further exposing Newcastle’s need for reinforcements.
Eddie Howe’s side have missed out on several other attacking targets this summer, including Hugo Ekitike, Benjamin Sesko and Joao Pedro, and now face a race against time to secure signings before the transfer window closes on 1 September.
