Saddlers missed out on Bothroyd
By Mark Buckingham
Last Updated: 01/01/70 1:00am
Lee was eager to add the young striker to his ranks, after Bothroyd was made available for transfer by Coventry City.
Bothroyd's search for a new club took him to Italy, where he netted a hat-trick in a friendly for Perugia - a feat which earned him a contract with the Serie A club.
Saddlers boss Lee revealed Bothroyd was his prime target and had an agreement to snap up the 21-year-old if he failed to fire at Perugia.
"We had an agreement with Coventry City's Jay Bothroyd that he would join us if his trial at Italian club Perugia didn't work out," Lee told the club's official website.
"He was keen to come here but in the end he scored a hat-trick for Perugia in his trial game and has been offered the opportunity to test himself in the Italian Serie A, something that he understandably doesn't want to turn down.
"It's a shame because he is a player of undoubted ability who would have done a good job for us but we must turn our attentions elsewhere and I have a number of other targets in mind."
One of Lee's targets is veteran Portsmouth schemer Paul Merson, who has also attracted the interest of fellow First Division side Nottingham Forest.
Lee confirmed he has been in negotiations over the weekend with two players and is hopeful of a positive conclusion to the talks.
He added: "We have been in discussions with a couple of experienced players and we are hoping to have something finalised shortly.
"Both players have a wealth of experience and will be important additions to our playing staff if we can manage to agree terms."