Wolves may offer the Clarets a £2.25m cash deal plus Stephen Elliott for forward Kyle Lafferty according to the Express & Star
Mick McCarthy will have to beat off bids from Rangers and Celtic though to secure the player
Rangers, it is understood have already bid £2.5 million for the 20-year-old, Northern Ireland International and reports in the Daily Mirror today suggest that a bid of £4 million cash may have been made by Wolves suggesting things are hotting up.
Stephen Elliott, is a 24 year old Irish International striker born in Dublin.
Mick McCarthy, then manager of Sunderland signed him from Manchester City in June 2004 for a fee of £125,000, set by a tribunal, with extra payments linked to his performance. He scored 22 goals in 81 appearances for the Black Cats.
Elliott then linked up again with his former boss by moving to Wolves on 17 July 2007 for an undisclosed fee believed to be around £750,000.
He has however scored just 4 goals in 22 appearances for Wolves and looks to be out of favour.
Elliott also has nine caps for the Republic of Ireland. He scored his only and only goal to date against Cyprus in a 1-0 win during the World Cup qualifier in October 2005.