Fletcher himself has handed in a transfer request in an effort to force a move to the Premier League club, Tweeting that his 'head was gone.'
Many are calling Wolves' valuation of the player they paid £7.5 million for two seasons back unrealistic. Fletcher scored 12 times in 26 games last season.
A look at the summer's transfer deals around Europe show that at £15 million the striker would become the joint fourth most costly in Europe.
Here's a look at the four who would exceed his valuation.
Ezequiel Lavezzi - Napoli to PSG, £23 million
Zlatan Ibrahimovic - AC Milan to PSG, £18.5 million
Lacina Traore - Kuban Krasnodar to Anzhi, £16 million
And joining him on £15 million -
Marco Reus - Borussia Moenchengladbach to Borussia Dortmund £15 million
What about those whose transfers he exceeds? Here are the rest of Europe's top 10 biggest fees laid out on strikers this summer.
Fabio Borini - Roma to Liverpool, £11.5 million
Mario Mandzukic - Wolfsburg to Bayern Munich, £11.5 million
Lukas Podolski - Koln to Arsenal, £10.5 million
Luuk de Jong - Twente to Moenchengladbach, £10.5 million
Olivier Giroud - Montpellier to Arsenal, £10.5 million
Paulo Dybala - Instituto to Palermo, £10.5 million
Not bad company for Steven Fletcher to find himself in, not that he will be taking any solace in the situation. There is no doubt he is important to Wolves, but it seems to us their valuation is a little unrealistic. £12 million was more than fair, and by continuing to dig their heels in they are doing nobody any favours, including the player himself.
What do you think, is Fletcher overpriced? Should Sunderland pay the £15 million?