Olofinjana signed for Wolves in July 2004 under Dave Jones, now four years later to that date he could be leaving the club. Reports are showing that Sunderland, West Bromwich Albion and Paul Ince's new club Blackburn Rovers.
In those four years Olofinjana has made a total of 147 appearances and scoring 18 goals.
Last October Olofinjana has committed to Wolves by signing a new contract till June 2011, but was this just covering up his desire to leave the club, if Wolves did not get promotion last season.
Jez Moxey explained to the official Wolves Website: "At the time of signing a new contract with Seyi last year, we agreed that, should the club miss out on promotion at the end of the 2007/08 season, we would circulate his name for transfer if that is what he wished.
"As expected, Seyi has made that request and we are therefore following through on our commitment and he has been placed on the transfer list.
"As an experienced senior international player who has not only served Wolves well but re-signed instead of holding out to become a free agent this summer, he has given us the opportunity of recouping our financial investment in him to help buy new players."