The Sky Blues, however, did make an inquiry for the 22-year-old centre-back whom the Owls have said is not for sale, although that snub may well be tested with a formal bid by City.
"We have made a number of inquiries for players but we have not made any bids yet," confirmed chairman Ray Ranson.
Wolves bosses want to recoup their money on Eastwood but fear they will be saddled with the out-of-favour transfer-listed striker who is understood to be quibbling over money he is legally owed by the club.
Wanderers say the problem lies between Coventry and the player but Ranson insisted: "The only way it would be resurrected is between Freddy and Wolves, but as far as we are concerned, we are moving on."
However, Wolves remain hopeful that a deal will go through early next week when Chris Coleman returns from Austria.
City, meanwhile, are understood to have had inquiries for Chris Birchall and Gary Borrowdale, although nothing concrete at this stage.