Mick McCarthy insists he is still confident of “beefing up” his Wolves squad this month – and has refused to rule out a £2m-£3m signing.

Wolves officials remain hopeful of completing one deal – possibly by the end of the week – and boss McCarthy says arrivals could be loans, or permanent additions.

But they will NOT be signing either Bristol City midfielder Marvin Elliott or Crystal Palace’s Ben Watson despite overnight reports they had lodged bids of £1.5m each for the pair.

While they would love to recruit Elliott, City won’t sell while Wolves have no interest in Watson.

This comes after two other midfield targets – Watford’s John-Joe O’Toole and QPR’s Mikele Leigertwood – dropped off Wolves’ radar.

McCarthy however hasn’t given up on recruiting like a Paul Ince or Denis Irwin-type experienced campaigner to steady the ship in the run-in.

“I want someone who can come in and play and be a regular,” said McCarthy.

“If you’re asking me whether we’re going to sign someone for £2m-£3m, I don’t think that’s relevant. We’ve certainly made enquiries for players.

“I’m not going to divulge names, but I’m looking at players, whether they be young or old.

“We’re always trying to improve and always trying to get better and if we can, we will.

“We’re looking for players to assist the squad – whoever they are.

“They will be first team players who can play in the team – whether it’s straightaway, or once when they get in, they stay in – and are good enough. That’s what I want.

“If we could get some in to help and make the squad bigger and beef it up, I’ll do it.

“I’m not taking chances on anyone from the lower leagues – I want someone who can supplement the first team squad.

“But it depends on whether we can get them – I’m looking at loans and permanent.”

Wolves meanwhile are confident of bucking the trend in the FA Cup and attracting a healthy gate of 20,000 for Saturday’s fourth round tie at home to Middlesbrough.

Over 15,300 tickets have been sold so far.

By Tim Nash