Dons chairman Pete Winkleman claimed the franchise side had settled on a fee.
But it appears that Winkleman went public a bit too soon when he decided he would now accept a figure he had previously rejected.
Wolves boss Glenn Hoddle insists he has now moved onto other targets, and is unlikely to reprise his interest in McLeod.
He blasted "We've moved on now, and have got other irons in the fire.
"That's as honest as I can be - there was an offer put down on the table which they declined.
"It's all right for them to come back now and say 'we'll take that now' but we've moved on and gone down another road.
"If we go back to them and say here's an offer of x, y and z, and they take it, that's up to them. But the bottom line is what do they expect us to do? Wait and wait?
"We turned our attentions to other players and I'm hoping that we might get them in the next week or so. If we do then I'll be happy."