Danny Cipriani remains undecided on his future and has not given up hope on an England call up.
His contract is due to expire at the end of the season but if Eddie Jones continues to ignore the fly-half a move to the Top 14 may be on the cards.
Wasps are expecting a decision after Christmas and plans are already in place if needing to find a replacement.
“Danny is one of the best attacking outside-halves I have worked with,” said Wasps director of rugby, Dai Young.
“I think he is undecided about his future. He does not want to give up on England, but if he concludes that ship has sailed, he may look to see where the biggest offer is.
“We know Danny is looking at his options and he is aware that we are considering ours. We will not be rushing off and signing anyone until we have spoken to him after Christmas.”
Queensland Reds and Australia fly-half Quade Cooper is one high profile player on the market after being told he can leave by Brad Thorn.
Wasps did not sign a marquee player to replace Kurtley Beale, but Young is planning to bring someone in for 2018-19.