Financially-stricken Luton Town, who are in administration, have sold two of their star players and let three others leave the club, reports BBC 3CR.
Edwards and Coyne are the two highest-profile Luton departures
Midfielder David Edwards, 21, will join Wolves for £675,000 and defender Chris Coyne, 29, Colchester for £350,000.
Midfielder Ahmet Brkovic, 33, has made his loan move to Millwall permanent.
Lewis Emanuel and Ed Asafu-Adjaye are to go on loan to Lincoln and Salisbury respectively, while bids have been lodged for three other players.
Plymouth have made offers for strikers Calvin Andrew and Drew Talbot, both 21, while Hull have made a bid for goalkeeper Dean Brill, 22.
The Hatters were placed in administration in November, a move which also saw the club deducted 10 points.
Luton's administrators had refused Edwards and Coyne permission to stay on for Saturday's game against League One leaders Swansea and next Tuesday's FA Cup third round replay against Liverpool at Anfield.
The administrators recently extended the deadline for interested parties to submit offers to buy the club until 7 January - a deadline which has since passed - and administrator Brendan Guilfoyle revealed that "more than one bid" was submitted.
A consortium fronted by BBC TV presenter and lifelong Luton fan Nick Owen revealed their interest earlier in the week.
However, Guilfoyle had previously warned that players would need to be sold if funds were not made available instantly.
Edwards, a Wales international, had only joined the Hatters from Shrewsbury in July, becoming manager Kevin Blackwell's first signing, but had since been targeted by Nottingham Forest.
His move from Shrewsbury had not been without controversy - as a dispute between the clubs over the move was eventually settled, although there was a disparity in the figures quoted by the two clubs.
Wolves chief executive Jez Moxey said that the Edwards deal had been agreed but had not finally been completed.
The £350,000 deal for Australian centre-back Coyne, who was Luton's longest-serving player, is a record transfer for Colchester.
Brkovic has made his loan move to Millwall permanent
Brkovic had been at Kenilworth Road since 2001, making nearly 200 league appearances and helping them win two promotions, in 2001/02 and 2004/05.
However, he had only appeared in one league match for Luton this season, and has scored three goals in nine appearances since joining Millwall on loan in October.
Former Bradford defender Emanuel, 24, has featured just twice for Luton this season, and had a loan spell at Brentford in the autumn.
Asafu-Adjaye, 21, is a first-year professional who has not yet appeared for the Hatters' first team, although he has been an unused substitute.
He has also spent time on loan at non-league side Walton & Hersham.