The Express & Star reports that the 31-year-old is no longer needed at the Reebok Stadium after Dougie Freedman signed two full-backs earlier this month.
Ricketts was previously signed by new Wolves manager Kenny Jackett when he was in charge of Swansea City.
Ricketts has made over 100 appearances for the Trotters since joining the club from Hull City in 2009.
Restore Data
| Team | P | W | D | L | F | A | GD | PTS | |
| 1 | Liverpool | 15 | 11 | 3 | 1 | 31 | 13 | 18 | 36 |
| 2 | Chelsea | 15 | 9 | 4 | 2 | 35 | 18 | 17 | 31 |
| 3 | Arsenal | 16 | 8 | 6 | 2 | 29 | 15 | 14 | 30 |
| 4 | Nottingham ForestNott'm Forest | 16 | 8 | 4 | 4 | 21 | 19 | 2 | 28 |
| 5 | Manchester CityMan City | 15 | 8 | 3 | 4 | 27 | 21 | 6 | 27 |
| 6 | Aston Villa | 16 | 7 | 4 | 5 | 24 | 25 | -1 | 25 |
| 7 | Brighton & Hove AlbionBrighton | 15 | 6 | 6 | 3 | 25 | 22 | 3 | 24 |
| 8 | Bournemouth | 15 | 7 | 3 | 5 | 23 | 20 | 3 | 24 |
| 9 | Fulham | 16 | 6 | 6 | 4 | 24 | 22 | 2 | 24 |
| 10 | Brentford | 15 | 7 | 2 | 6 | 31 | 28 | 3 | 23 |
| 11 | Newcastle UnitedNewcastle | 16 | 6 | 5 | 5 | 23 | 21 | 2 | 23 |
| 12 | Tottenham HotspurSpurs | 15 | 6 | 2 | 7 | 31 | 19 | 12 | 20 |
| 13 | Manchester UnitedMan Utd | 15 | 5 | 4 | 6 | 19 | 18 | 1 | 19 |
| 14 | West Ham UnitedWest Ham | 15 | 5 | 3 | 7 | 20 | 28 | -8 | 18 |
| 15 | Everton | 15 | 3 | 6 | 6 | 14 | 21 | -7 | 15 |
| 16 | Leicester CityLeicester | 16 | 3 | 5 | 8 | 21 | 34 | -13 | 14 |
| 17 | Crystal Palace | 15 | 2 | 7 | 6 | 14 | 20 | -6 | 13 |
| 18 | Ipswich TownIpswich | 16 | 2 | 6 | 8 | 16 | 28 | -12 | 12 |
| 19 | Wolverhampton WanderersWolves | 16 | 2 | 3 | 11 | 24 | 40 | -16 | 9 |
| 20 | Southampton | 15 | 1 | 2 | 12 | 11 | 31 | -20 | 5 |
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