Negotiations will also take into account players’ contracts at clubs, as some enter the final few months of their current deals.
That may allow clubs to sign players for a reduced fee, while some will be trying to agree new deals rather than losing assets on a free transfer.
According to Transfermarkt, here are the most valuable Championship players who are in the final year of their contracts.
It should be noted that some clubs have options to extend player's contracts - often by a further year.
17. (8th) Oliver Norwood (Sheffield United)
With nearly 200 Sheffield United appearances under his belt, the 31-year-old remains a key player at Bramall Lane but is nearing the end of a three-year deal. Photo: George Wood
18. (7th) Jake Cooper (Millwall)
The length of Cooper’s contract wasn’t revealed when he signed a long-term deal in 2020. It has been reported the defender’s contract will expire this summer, though. Photo: Alex Davidson
19. (6th) Han-Noah Massengo (Bristol City)
It was confirmed in the summer the 21-year-old midfielder had not signed a new deal at Ashton Gate, despite an offer being on the table since the end of last year. Photo: Tony Marshall
20. (5th) Ross Stewart (Sunderland) - Club option to extend
Sunderland have a one-year option on Stewart’s contract which would extend the deal to 2024. The Black Cats are hopeful the 26-year-old will sign a new deal. Photo: Stu Forster