Wolves contacted Liverpool over a move for winger Harvey Elliott, though there is one clear reason why they’ve now abandoned a transfer.
At the start of May, it was revealed that Wolves were interested in Liverpool’s Harvey Elliott, who was touted for an exit after starting just twice in the Premier League last term.
Liverpool placed a whopping £40 million price tag on Elliott, with supporters urging the Old Gold not to shell out that much money for the 22-year-old.
While Elliott is currently starring at the U21 European Championships with England, a fresh update has emerged on Wolves’ pursuit of the playmaker.
Harvey Elliott during Chelsea FC v Liverpool FC
Photo by Jacques Feeney/Offside/Offside via Getty Images
Wolves put off by Harvey Elliott’s £40m asking price
Elliott recently said he didn’t want to waste his career sitting on the bench at Liverpool. Following the signing of Florian Wirtz, it looks increasingly likely that the former Fulham man will be feeding off scraps next season.
Wolves were deterred by Harvey Elliott’s asking price when they touched base about a deal
Brighton are showing more willingness around a £40m valuation pic.twitter.com/LhbSyHd1cQ
— Dean Jones (@DeanJonesSoccer) June 25, 2025
Wolves could have offered the youngster an exit route out of Anfield, though journalist Dean Jones reports that a move has been ‘abandoned’ due to his high asking price after both clubs ‘touched base’.
According to Jones, Premier League rivals Brighton are showing more willingness to meet his £40 million price tag, with Vitor Pereira’s recruitment team making the correct decision to pull the plug.
On Friday, Wolves confirmed the signing of Fer Lopez for £19.5 million, and the 21-year-old occupies a similar position to Elliott as a right-sided attacking midfielder.
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Therefore, it wouldn’t have made sense financially to pay £40 million for someone who equally has a lot to prove in the Premier League, even if Elliott is a ‘special talent’.
Where Elliott would have ranked among Wolves most expensive signings
Matheus Cunha is Wolves’ most expensive signing ever after joining in a £44m transfer from Atletico Madrid in 2023.
Matheus Nunes is second following his £42.4m move from Sporting Lisbon in 2022; meanwhile, Elliott would have been third on the list if the Wanderers triggered his £40m valuation.
Most expensive signings Wolves have made
1. Matheus Cunha – £44m, from Atletico Madrid
2. Matheus Nunes – £42.2m, from Sporting CP
3. Harvey Elliott – £40m, Liverpool
4. Fabio Silva – £35m, from FC Porto
5. Raul Jimenez – £30m, from Benfica
6. Nelson Semedo – £29m, from Barcelona
7. Goncalo Guedes – £27.5m, from Valencia
8. Andre – £21m, from Fluminense
9. Nathan Collins – £20.5m, from Burnley
10. Fer Lopez – £19.5m, from Celta Vigo
Considering he’s scored just five goals in 94 top-flight appearances, capturing Elliott would have come with a huge risk, and one Wolves aren’t willing to take.