In Gary O'Neil's first season in charge, the West Midlands outfit performed better than anticipated, yet a poor end to the campaign resulted in a 14th-placed finish.
That was partly down to Wolves' lack of strength in depth in the final third, O'Neil having to resort to using academy players Nathan Fraser and Leon Chiwone on a number of occasions.
Heading into the summer transfer window, Wolves do not necessarily have to sell any players - as has been the case recently - yet Pedro Neto and Matheus Cunha have been linked with big-money moves away from Molineux.
Furthermore, Fabio Silva will leave the club either on a permanent or temporary basis, while Sasa Kalajdzic's future is up in the air after suffering another serious knee injury earlier in the year.
As a result, it is inevitable that Wolves will add at least one new forward to their ranks, with Southampton's Che Adams another who has been linked with a transfer.
Wolves hold talks with Batshuayi
According to Kontrasporcom, Wolves have held discussions with Fenerbahce frontman Michy Batshuayi regarding a potential transfer.
The 30-year-old has just endured a frustrating campaign in Turkey, making just four league starts and subsequently missing out on Belgium's squad for Euro 2024.
However, Batshuayi made a further 23 outings from the substitutes' bench, with an outstanding total of 12 goals coming from 776 minutes of football.
Jose Mourinho has since taken charge of Fenerbahce, who could take up the option of extending Batshuayi's contract by a further 12 months.
As it stands, though, he is free to speak to potential new clubs with his existing deal due to expire at the end of June.
Why could transfer be ideal for all parties
Since moving to Chelsea in 2016, Batshuayi has endured somewhat of an unusual career path with more than half of his appearances coming from the substitutes' bench, despite his outstanding return of 27 goals from 56 games for Belgium.
As many as 43 of his 48 Premier League games for Chelsea came as a substitute, yet he ended his Chelsea stint with 25 goals and six assists from 77 appearances.
He was less productive at Crystal Palace - scoring seven goals from 16 starts and 13 substitute outings in the top flight - but he has been a revelation in Turkey, scoring 38 goals across three seasons for Besiktas and Fenerbahce.
That return is particularly impressive courtesy of 30 of his 78 appearances coming as a replacement, yet a switch to Wolves could provide him with the regular first-team football that he will want at this stage of his career.