THE first moves have been made in what is expected to be a summer of hectic transfer activity at the Reebok.

But Wanderers' chiefs appear to be in no hurry to start the ball rolling.

I understand they are currently considering a bid for one of their most saleable assets - one national newspaper report claims Eidur Gudjohnsen is on his way to Manchester City - but they are keeping details under wraps.

Nevertheless, Sam Allardyce has made it clear he will have no scope to move into the market himself until he raises cash first, and all the signs suggest a sale for one of his sought-after stars being agreed sooner rather than later.

The Wanderers boss had been predicting a period of calm before the anticipated storm of close season business that could see the wind of change rip through his Reebok squad.

He has hinted strongly that the bulk of the serious transfer business is likely to come in the second half of the month after managers have taken their summer break but he has repeatedly warned that he will find it impossible to resist offers for his best talent when the 'big cheque books' come out and at least one serious bid now appears to be on the table.

Gudjohnsen remains the player attracting most interest from the tabloids with Chelsea rumoured to be set to clinch a £5 million deal for the Reebok top scorer this week, regardless of developments in their £14 million bid for Atletico Bilbao's Jimmy Floyd Hasselbaink. Now City are reported to be back in the frame with Joe Royle reported to have increased his initial valuation, which was a derisory £2.5 million.

Royle is also being touted for a move for Mark Fish while Coventry boss Gordon Strachan is said to have lined up Claus Jensen to replace Gary McAllister, who has signed for Liverpool.

Meanwhile Alardyce is still unsure whether he will have any success in getting his three out-of-contract players to stay.

He is still awaiting answers from Jimmy Phillips and Gudni Bergsson and has had no indication yet from AB Copenhagen over his attempts to get them to reconsider their pre-contract agreement that will take Michael Johansen back to Denmark.