The 21-year-old's future at the Stadium of Light has been plunged into doubt after the striker turned down a contract offer from the club last week, and with less than 12 months remaining on his current deal, Leicester City looked favourites to swoop.
But it now seems that Nigel Pearson no longer has the Sunderland striker within his sights, as Leicester close in on a deal to sign Leanardo Ulloa.
According to reports Brighton & Hove Albion have accepted a £7million offer from the Foxes, and the 27-year-old Argentinian is set for a move to the King Power stadium subject to agreeing personal terms.
With Leicester on the verge of forking out a big fee for a new centre-forward, it is unlikely that Pearson will return with a fresh bid for Wickham any time soon, easing the pressure on Sunderland in their quest to tie up a new deal with the youngster.
Wickham played a key role in Sunderland's remarkable Premier League survival last season. Returning from a loan spell in the Championship, the England under-21 international netted five goals in the final 12 games of the season, ultimately edging the Black Cats over the line.
With the Wearside club seemingly facing a striker crisis this summer, Gus Poyet will be desperate for the 6"2 forward to put pen to paper on a new deal, and pledge his immediate future to the club.
And Wickham is surely more likely to do just that, now that the door has shut on the most probable exit away from the Stadium of Light.