Fletcher impressed in League One last term
Fletcher, who plays as a striker for Manchester United, is out of contract at Old Trafford but has been offered a new deal, according to the Manchester Evening News.
Fletcher impressed on loan to Barnsley last season, scoring nine goals in 26 appearances to fire the Tykes to promotion via the League One play-offs.
Fletcher celebrates promotion at Wembley
Earlier this month, the Yorkshireman told the Sheffield Star he would be open to a return to Oakwell next season, with a loan deal likely should he extend his stay in Manchester.
Leeds are also keen on Fletcher, according to the Yorkshire Evening Post, though Wolves' reputation for nurturing young English talents, notably Kortney Hause, Dominic Iorfa and Benik Afobe, could work in their favour.
Wolves secured eight figures for Afobe (L), who'd only been at Molineux a year
Should Fletcher leave Old Trafford this summer, United would be due compensation for his services.
Fletcher celebrates scoring just up the road at Walsall