The New Zealand striker has been on head coach Kenny Jackett's radar for a while and he nearly signed him last summer.

It is thought that a £1m fee will be enough to prise the former Albion forward from the Foxes.

Wolves are thought to have had an initial bid for the striker rejected but went back with an improved offer, which met Leicester's valuation.

Leeds had a bid accepted last week and Wood must now decide where his future lies.

Jackett, who worked with the player when he was on loan at Millwall, today played down any interest in the striker.

But sources have suggested that it is a two-way fight between Wolves and Leeds for Wood's services.

He is surplus to requirements at the King Power Stadium, with Leicester's big-money signing of Japanese striker Shinji Okazaki pushing him even further down the pecking order.