Mick McCarthy ready for January shopping

Wolves boss Mick McCarthy is busy planning how to spend a winter kitty of around £4.5m – and he won't have to sell.

It's understood McCarthy was initially told he could only deal in loans but owner-chairman Steve Morgan has now relaxed the purse strings to allow him to spend more than an estimated £3m, and up to £4.5m.

McCarthy's main targets are a centre-back and a defensive midfielder.

Manchester City's versatile stopper Nedum Onuoha, 25, and Wigan enforcer Mohamed Diame, 24, are on the radar.

But McCarthy has other irons in the fire, including loans, and particularly in midfield, where he is keen on Arsenal pair Emmanuel Frimpong and

Francis Coquelin, who have been given permission to go out on a temporary basis.

Premier League clubs are only able to borrow one player from a rival team, however.

And McCarthy remains a fan of Sunderland midfielder Craig Gardner, who is said to be homesick on Wearside.

City want £4m for long-term Albion target Onuoha but Wolves are only willing to pay £3m, so there will have to be negotiation on price if he is to come to Molineux.

Diame is out of contract next summer, and, with Wolves being one of Wigan's main rivals for survival, the Latics would be understandably cautious to do business.

Asked if he had to finance deals from sales, McCarthy said: "No, that's not the case. Of course it (money from sales) always helps, but we're not doing it for that."

A lower priority could be a striker, with Leeds' 11-goal hitman Ross McCormack having long been on McCarthy's radar.

All three are currently on loan until January with Keogh at Leeds, Griffiths at Hibs and Vokes at Burnley.