Wolves could be starved of cash amid financial crisis

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Wolves ownership group Fosun International could be set to starve the club of cash amid ongoing financial problems.

That’s the view of finance guru Kieran Maguire, speaking exclusively to Football Insider on how Fosun’s external business circumstances might affect the Molineux club.

The Chinese conglomerate bought Wolves, then in the Championship, for £45million in 2016.

The The Financial Times reported that the company’s shares have lost 18% of their value since early September.

It is also understood that Chinese regulators have asked some lenders and state-owned companies to review their exposure to Fosun.

The company has started selling off assets to offset its growing debts, and analysts say there is a tangible threat to the wolves.

Maguire foresaw how this threat might present itself.

“Financial issues with Fosun mean they have to be careful about how they spend money.,” he said Football Insiders Adam Williams.

“That means they will likely have to divest large non-core investments. Wolves could be included in that.

“Alternatively, there could be a cost-cutting exercise, which would again have implications for Wolves and their transfer market business going forward.”

Wolves, who are currently 14th in the Premier League, recorded a negative net outlay of around £72m during the summer transfer window.

They made a profit of £18.4m on revenue of £194m in 2020-21, the last financial year on record.

In other news, a medical insider claims Diego Costa may not be fit for the ‘eight games’ amid the final Wolves.

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