The Wales international has made 35 appearances this season - just 12 of them in the starting XI - scoring four goals.

He almost joined Coventry on loan in January before Wanderers pulled out of a deal at the 11th hour.

Eastwood, who signed a four-year deal at Molineux after a £1.5million move from Southend last summer, has remained popular with supporters, although a summer move always looked on the cards.

McCarthy told the club's official website: "I've had a discussion with Freddy and he is available for transfer. It's nothing personal, it's just not worked out how either I, or Freddy, would have liked.

"I thought he would fit into my team but he hasn't. He's not for me and maybe I'm not for him. He wants to play and he'll do well somewhere else. We wish him good luck."