Celtic is currently paying Balde's wages of 30k a week until his contract runs out in a year's time. Celtic have told Balde, if he can find a new club who are prepared to offer him a contract he will accept, he can leave Celtic on a free transfer.
Today Scottish newspapers have been making up rumours that Wolves have offered Bobo Balde a 27.5k a week deal and Balde has apparently turned this offer down.
Wolves highest paid player is Darren Ward, who is rumoured to be on a 11k a week contract. The last thing we want is offering big hot shots high paid wages, what will upset the dressing room.
We are still in need of a defender, but not one who is interested in the money before playing first team football.
The only true thing about this speculation is that Mick was interested in Balde if he took a major wage cut.
Moxey told the Express and Star about the current situation that "It's a complete non-starter.
"We have had no contact with Celtic on this issue whatsoever. It's completely out of our wage structure.
"What we want to try to communicate is that we just do not do this sort of wage - we don't pay that sort of money to anyone."
Chairman Steve Morgan has come out to say there maybe one or two more signings before the end of the transfer window in 2 weeks time.
Morgan also told the Express and Star "If we could wave a magic wand and maybe get in another one or two then we would, but it's not a case of bringing people in just for the sake of it," he said.
"They've got to be the right players. And if we don't, we still think we're in good shape anyway."
"I was lucky enough to inherit a good team here," said Morgan. "I very much stand by that. If anything, everyone is even more together over the last 12 months.
"The new generation have come in and the backroom team is younger than it was.
"There are a lot of fresh faces in there now."