"It is obvious that we need to bring in (players) but there are a lot of things in consideration," said manager Nuno at a press conference in China ahead of the Premier League Trophy.

"We are only going to bring in players that add quality to the squad we have. That is why it requires time.

"Sometimes things are not possible but I am hopeful we are going to bring in players. I hope we make not only one (signing) but a bunch of very good business."

Wolves' performances last season has raised the question of whether they might be good enough to challenge the Premier League's big six.

Nuno, whose side face Newcastle in Nanjing on Wednesday, refused to be drawn on the matter.

The Portuguese said: "We never fight for any position in the table. We only fight in each game.

"What happened last season – we can only repeat that if we work harder, and dedicate more. We are conscious that it has to be like that.

"The players know each season is going to be more difficult but I really believe we can improve the quality of our game.

"We have to add players to compete against the top six but it is not in our heads to compete for the top six. We compete game by game."

Wolves will also return to European competition for the first time in 39 years next season.

Their challenge will begin after they return from China next week, with a Europa League qualifier on July 25.

Defender Ryan Bennett said: "It is obviously a big competition and it is something we worked very hard for last year, every single week. We are looking to go out there and give ourselves every opportunity to go as far as we can in the competition."