Leeds have enquired about buying Wolves striker Jorgen Strand Larsen.
The Elland Road side have been quoted £40m for the Norway international but are yet to make a firm bid.
BBC Sport has been told the club’s profit and sustainability considerations, and with other clubs interested, may make any deal complicated.
Leeds, 16th in the Premier League, have already signed Brighton attacker Facundo Buonanotte on loan this week.
West Ham have previously asked about Strand Larsen but backed off because of Wolves’ asking price, while Nottingham Forest have him on their list of targets.
Strand Larsen has scored six goals this season, including a hat-trick in Saturday’s 6-1 FA Cup win over Shrewsbury.
But he has netted just once in the Premier League – a penalty against Burnley in October – leading to some fans turning on the 26-year-old.
He scored 14 goals last season after joining on loan from Celta Vigo before making the move permanent for £23m in the summer.
Newcastle had bids rejected for him in the summer and he signed a new five-year deal in September but Wolves are open to letting him leave, with Wolves bottom of the Premier League and expected to be relegated.
Rob Edwards is looking to reshape his squad but Joao Gomes could still stay at Molineux this month, despite interest from Atletico Madrid and Napoli.
The midfielder is prepared to wait until the summer, with Serie A side Napoli believed to be frontrunners, although Wolves still remain open to letting the Brazil international leave if there is an acceptable offer.