Wolves boss Dave Jones has released four players in the wake of the club's relegation to Division One.
Strikers Nathan Blake and Steffen Iversen and defenders Oleg Luzhny and Isaac Okoronkwo will all be leaving.
Contracts have been offered to Paul Butler, George Ndah, Vio Ganea and Paul Ince and Joey Gudjonsson could make his loan move from Real Betis permanent.
Veteran full-back Denis Irwin is retiring and Alex Rae signed for Rangers on Tuesday.
Jones said: "If the players we want to re-sign agree, then I'll probably have to look at bringing in only three or four new faces over the summer.
"If they don't, I'll just add new targets to my list.
"The players are going away now but I hope to hear their decisions pretty soon and I'd certainly like to have everybody's situation finalised by the time we return on 5 July."