Wolves have performed a U-turn over Alex Scott and are now readying a fresh bid for the Bristol City ace, talkSPORT understands.
The 19-year-old is in-demand this summer, with several Premier League clubs chasing his signature after an impressive season in the Championship.
Wolves had an £18million bid rejected earlier in the summer transfer window and had indicated they were out of the race.
But the West Midlands club are now preparing a new offer for the youngster, who was named Championship Young Player of the Year last season.
It is understood Wolves' new offer will be in the region of £20million.
The news is a blow to Bournemouth, who believed they were frontrunners to sign Scott.
The Cherries had a £15m bid for the teen rejected by Bristol this week.
The top-flight rivals are now set to battle it out to land the midfielder, who managed two goals and five assists for the Robins last season.
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