Swindon Town bid imminent for Rotherham United striker Jerry Yates
The striker is a target for at least three clubs and Swindon Town have signalled their intention to put money on the table in an attempt to persuade the Millers to sell.
Rotherham will play in the Championship next season following their own promotion from League One and are willing to part with the centre-forward if the price is right.
Wellens told BBC Wiltshire: “We’re going to put an offer into Rotherham in the next 48 hours and we’ll see what Rotherham say.
“But we can only pay what we can pay in the current market.”
League One Blackpool are also among the sides keen on 23-year-old Yates, who came through the Millers' youth ranks. There are been reports that Sunderland are suitors but their interest has yet to be confirmed.
Yates, from Doncaster, has played at times for Rotherham in the Championship and League One since 2015 without ever fully making a breakthrough, scoring five goals in 52 appearances.
He did well on loan at League Two Carlisle United in 2018 before really coming to prominence at the County Ground where he formed a prolific partnership with Eoin Doyle.
The Millers have exercised a 12-month extension on the forward's contract, meaning they can command a fee for his services if he departs this summer.
Publicly, Rotherham say his Yates' career at AESSEAL New York Stadium isn't necessarily over, but club and player are believed to agree that his future lies elsewhere.
Rotherham manager Warne and his Swindon counterpart, Wellens, are close friends from their playing days together at Oldham Athletic.
That bond wouldn't hurt any negotiations, while Yates loved his season-long spell with Town and would be open to a permanent return. However, money will talk and the Millers are extremely unlikely to accept the first bid they receive.
The coronavirus pandemic has hit clubs' finances and no-one knows yet how much player values will be affected in the summer transfer window.
Rotherham will be happy to bide their time in the hope that a bidding war pushes up Yates' price.