The player, who had already voiced his interest to don the maroon and white jersey in Swaziland, is currently in talks with the club's leaders over a possible move, but a source close to the deal said the club was still weighing up the viability of the whole deal.
According to a report in the Times of Swaziland today, Chippa did not want any signing on fee, but instead asked to be given a R15 000 salary.
"The deal has not failed yet after the player's high salary demand, but the club is still weighing up options to see if the whole deal is financially viable," the source said.
Wanderers' PRO Vuyile Dlamini said negotiations with the player were done by the club's directors.
"We are waiting for a feedback from the team directors because the deal was being handled at that level. We will only inform the public once we are officially notified of what eventually transpired," he said.
If the deal comes through, Lekoelea will become the highest paid player in the history of Swazi football. In fact, the club was earlier this season turned down by former coach Archie 'Juluka' Radebe after it had offered him R6 000 salary.
The forgotten former Bafana Bafana player was in the country last week as a guest during the crowning of Miss Manzini Wanderers.
The player was earlier linked with a move to Mbabane High-landers, but ended up talking to Thanda Royal Zulu.
He last played for National First Division side United F.C last season where he played alongside late former Kaizer Chiefs left winger Emmanuel 'Scara' Ngobese.