Derby's Chris Martin shoots
The offer is a statement of intent from Wolves to compete for some of the best players in the division, with Martin a proven goalscorer.
Hull's Curtis Davies in action with Derby's Chris Martin
The report raises the possibility of Wolves returning with an improved offer although does not say this with certainty.
Wolves are flush with money from their recent takeover by Fosun International and have already signed four players since the deal was confirmed at the end of July.
Martin has a very good record in the Championship over the past two seasons for Derby, netting 33 goals, and it is no surprise they are not relinquishing him without a fight.
The 27-year-old would boost Wolves' aims of winning promotion, and potentially form a dangerous partnership with fellow new boy Jon Dadi Bodvarsson, who netted on his debut this past weekend.
Derby County's Chris Martin shoots
Here is a look at how Wolves supporters reacted on Twitter to news of the bid...
Chris Martin would be a great signing, along with a decent midfielder to partner JT and some defenders! #wwfc— Gustave H. (@groomtings) August 11, 2016
I'm sorry but if you don't realise how good Chris Martin is & that he'd be a wonderful addition for #wwfc - then football isn't your sport.— Martin Danks (@MartinDanks) August 11, 2016
Bid £8-9 million for Chris Martin and they'll probably accept. Do it Mr Shi! #WWFC— Matthew M Summers (@Matt_Summerz) August 11, 2016
I wouldn't pay £6m for Martin, maybe £4m. Assombalonga would be much better signing at £8.5m or Nakhi Wells for £8m #wwfc— TWOLF (@WOLVES_TWOLF) August 11, 2016