| To Wolves | New Professionals | Away |
| | |
| Bennett, TM- Aston Villa (Free) 5/6 | Bebb, I- 26/8 | Jones, M- Kidderminster Harriers (Free) 1988 |
| Gooding, MC- Peterborough United (£85,000) 20/9 | Morrison, KG- 22/8 | Smith, M- Stourbridge (Free) cs 1988 |
| Steele, TW- Shrewsbury Town (£80,000) 22/2 | | Purdie, J- Oxford United 4/7 |
| Stowell, M- Everton (Loan) 17/3 | | Holmes, MA- Huddersfield Town 8/7 |
| Hansbury, R- Birmingham City (Loan) 21/3 | | Stoutt, SR- Grimsby Town (Free) 1/8 |
| | Forman, MC- Burton Albion 1/9 |
| | Brindley, CP- Telford United (Loan) 1/11 |
| | Grainger, P- Telford United (Loan) 1/12 |
| | Grainger, P- Telford United (Contract Cancelled) 17/1 |
| | Brindley, CP- Released 17/1 |
