Nugent is expected to leave Deepdale this season after attracting interest from a host of Premiership clubs.
He has scored 37 goals in 107 games since his move to Preston from Bury in January 2005, rejecting a move to Glanford Park to stay in Lancashire.
He scored on his senior England debut last month, a Euro 2008 qualifying win over Andorra, and is currently in Holland for the U-21 European Championships.
Sharp is arguably an even hotter property than Nugent, having hit 32 goals for the Iron last season as they won the League One title.
Wolves are frontrunners for his signature, if he opts to leave the Iron, with Watford the latest club to be linked with a move.