Wolves will not be making an approach to sign Emile Heskey or Jan Vennegoor of Hesselink, according to the club's chief executive Jez Moxey.
The club are, however, still in the hunt for reinforcements up front after allowing Andy Keogh to join Cardiff on a season-long loan earlier this month.
The Irishman's departure means boss Mick McCarthy has just three recognised senior strikers in Kevin Doyle, Sylvan Ebanks-Blake and Steven Fletcher.
McCarthy is believed to be in the market for cheap cover and was thought to be eyeing Vennegoor of Hesselink, who has since joined Rapid Vienna.
Heskey, meanwhile, would be a more ambitious and expensive target but Moxey admits both have now slipped off their transfer wish-list.
"It's a 'no' on those two," said Moxey. "There probably won't be any developments until tomorrow [Tuesday], if anything at all. But we're still working on a possible incoming deal."
Wolves have made an unbeaten start to the Premier League campaign as McCarthy looks to build on last season's success of staying in the top flight with games to spare.