$100m Wolves claim made as FFP fears continue to bite at Molineux
Latest Wolverhampton Wanderers news from BirminghamLive as investment claim made after quiet January transfer window
Wolves owners Fosun are reported to be looking to raise $100m to invest in the club and to help grow their esports portfolio.
According to Bloomberg, citing “people familiar with the situation”, the amount of capital being raised hasn’t been finalised, nor the amount earmarked for Wolves. They add that Fosun Sports Group declined to comment.
However, any investment in the football club will be welcome news to manager Gary O’Neil and supporters after a January transfer window in which Wolves were minor players over fears of breaching the Premier League’s tough new profit and sustainability rules.
O’Neil explained: ‘We couldn’t afford to go to where other clubs were able to go without putting ourselves at risk. It’s the position the club’s in.
“We could afford wages but some of the fees – obligations, loan fees, penalties for people not playing – were too much of a hurdle for us. We couldn’t get anything done.”
Wolves, who maintained their good form this season under O’Neil by trouncing Chelsea last weekend, made a £43.1m loss in the year to May 2022, according to the latest available figures, claims Bloomberg.
Their report adds: “Fosun Sports Group is an arm of Chinese conglomerate Fosun International Ltd – whose businesses span tourism, pharmaceuticals and finance – which has been divesting assets and cutting borrowing after credit concerns triggered a bond and stock sell-off.
