The 25-year-old underlined his value on Wednesday night against Everton, coming off the bench to provide the assist for Mateus Mane in a 1-1 draw.
It was a timely reminder of his influence, even as Wolves find themselves in a relegation battle.
West Ham were first to test the waters when the January window opened, but they were unwilling to meet the player’s valuation.
Since then, it has become clear that Wolves would be prepared to sanction a sale, with a fee of around £40 million expected to be enough to do business. It is a figure unlikely to deter interested clubs.
Forest are actively exploring attacking reinforcements, while Crystal Palace and Everton are also understood to be monitoring the situation closely.
However, the most intriguing suitors remain Newcastle United. The Magpies made two unsuccessful attempts to sign Strand Larsen last summer, with bids of £50 million and £55 million falling short.
Sources suggest the chance to now land him at a reduced price has renewed their interest, despite recent additions of Yoane Wissa and Nick Woltemade.
Newcastle are preparing to allow William Osula to depart and have long been open to adding another proven goalscorer. Strand Larsen’s profile fits neatly with Eddie Howe’s preferences in the way he is capable of leading the line or linking play.
Sources insist interest in him - and any attempt to sign the player - would be no slight on either Wissa or Woltemade, who remain a big part of the plan moving forward.
Since arriving in the Premier League, Strand Larsen has registered 15 goals and five assists in 54 appearances.
With several clubs circling, progress on his future is expected within the next week - and a January transfer battle is about to open up.
