| First Team Overall | First Team Appearances & Scorers | Transfers | Reserves |
| To Wolves | New Professionals | Away |
| Brooks, E- Blackburn Rovers 12/5 | George, NF- 5/5 | Bird, H- Released cs 1921 |
| Brooks, W- Round Oak 12/5 | Hartland, F- Released cs 1921 | |
| Croft, T- Redditch 12/5 | Stokes, D- Released cs 1921 | |
| Jones, B- Harper Bean 12/5 | Arrowsmith, W- Cannock Town cs 1921 | |
| Rouse, VA- Pontypridd 12/5 | Hales, FF- Stafford Rangers cs 1921 | |
| Smart, FL- Redditch 12/5 | Welsby, E- Brownhills Town cs 1921 | |
| Watson, EG- Pontypridd 12/5 | Jones, JJR- Released 1/6 | |
| Burrill, F- Southend United 14/5 | Price, F- Port Vale 29/8 | |
| Hampton, JW- Oakengates 14/5 | Smart, FL- Aston Villa 1/11 | |
| Mayson, TF- Everton 26/5 | Peers, EJ- Hednesford Town Aug 1921 | |
| Carter, ET- Ashington 22/6 | ||
| Wilding, W- Unknown 20/8 | ||
| Hargreaves, HH- Nelson 19/11 | ||
| Bissett, G- Manchester United 26/11 | ||
| Thomas, A- Wellington Town 26/11 | ||
| Rhodes, L- Willenhall 11/3 | ||
| Kay, A- Willenhall 1/4 | ||
| Whatmore, EL- Stourbridge 28/4 |
