Wolves have completed the permanent signing of Liverpool midfielder Darren Potter.
The Championship outfit have paid an initial £250,000 fee, rising to a £525,000 with add-ons.
Potter, previously on loan with Wanderers, has put pen to paper on a three-and-a-half-year deal.
Chief executive Jez Moxey said: 'It has taken a long time to negotiate but we're delighted that we have finally struck a deal to make Darren's move to Wolves a permanent one.
'He has done really well for us and hopefully he will continue to do so for many years to come.'
Wolves have also completed the signing of Stephen Ward from Bohemians for an undisclosed fee, signing a two-and-a-half year contract.
Club officials, however, are still awaiting international clearance for the Irish striker before he is allowed to play.
McCarthy has also moved quickly to reward academy graduate Mark Little with a new contract to tie him to Molineux until the summer of 2010.
The 18-year-old has impressed at right-back since breaking into the first team in August and is due to represent England at Under 19 level against Poland next month.
Little said: 'I think there have been a few clubs sniffing around but I knew I wanted to stay here.
'I'm a Wolves fan, always have been, and to help the club into the Premiership would be a dream.
Moxey added: 'Signing Mark to a new three-and-a-half year deal represents further proof of the success we, as a club, are having at developing highly talented young players through the Academy into the first team.
'We hope that Mark will follow in the footsteps of so many other talented youngsters that have come through the system such as Robbie Keane, Joleon Lescott, Matt Murray and Lee Naylor.'