Wolves are expected to offer Andy Carroll a one-year contract if their move for Diego Costa collapses in the next 48 hours.
Bruno Lage's side are hoping to complete a deal for Costa, 33, in the coming days after new £15million signing Sasa Kalajdzic suffered an anterior cruciate ligament injury during the first half of his Wolves debut against Southampton on Saturday afternoon.
Yet Costa's move to Wolves hangs in the balance after his initial application for a work permit was rejected because he did not score enough points. The Spain international will fly to the UK on Tuesday evening to appeal the verdict.