Tottenham Hotspur's Tom Huddlestone celebrates after scoring

Wolves have declared ‘no deal’ over the chance to sign Tottenham midfielder Tom Huddlestone after hearing he would cost £8m.

Boss Mick McCarthy has moved on in his search after being quoted the mega-bucks price for the one-time Molineux loan man, who only signed a five-year contract at White Hart Lane last summer.

McCarthy is in the market to sign experienced Premier League players, but won’t be held to ransom by huge prices and wages.

The Championship title-winning boss has also been linked with relegated Newcastle midfield pair Nicky Butt and Alan Smith, but their £60,000-a-week wages have contributed to the fact they have been swiftly rejected as potential Molineux signings this summer.

Wolves had been linked with former Derby midfielder Huddlestone, who played 13 games in gold and black in the 2005-06 season under Glenn Hoddle.

Huddlestone is also known to Wolves players Michael Kightly, Sylvan Ebanks-Blake and Richard Stearman from the England under-21 set-up.

But McCarthy won’t be going back for the powerful midfielder after hearing how much he would cost.

Huddlestone is believed to be one of several players Spurs manager Harry Redknapp is prepared to cash in on this summer as he seeks an improvement on this season’s eighth placed finish in the Premier League table.

But his destination won’t be Molineux if he moves on from White Hart Lane this summer.

Midfield is one of the areas McCarthy is known to want to strengthen before the big kick-off.

McCarthy won’t entertain the sort of financially draining signings claiming one last pay day.

Much more realistic will be people who possess the ‘legs and lungs’ to be a threat at the top level.

The 50-year-old Molineux chief has returned from a two-week long Europe-wide scouting mission, but is keeping the identities of his targets close to his chest to avoid alerting rival clubs to his activities.

Wolves scouts have been active all over the country watching Premier League games and matches abroad since the Championship season finished three weeks ago.