The Northern Ireland international moves to The Baggies for around £2.5million with an extra £500,000 coming from add ons, such as appearances and West Brom gaining promotion.
But Laws admits losing the player because of his financial demands was a blow but he is not irreplaceable.
He told the club's official site: "I am disappointed to lose a quality player because he has been tremendous since I have been here. The style here has suited him, he has created goals and scored goals.
"If a player states the he does not want to be here, he wants to go, you can't keep a player against his will, Therefore a financial decision had to be made.
"If it was a footballing decision I would have kept him here every time but a financial decision had to be made and that's the decision that has been taken - we'll go out there and replace him, that's the way football goes."
Laws is talking to two players, one regarding a loan move in time for the Wolves game on Saturday while the other player is currently at a European club and that could be a permanent deal.