Wolverhampton Wanderers fans have reacted to a recent interview with executive chairman, Jeff Shi.
The interview, conducted by The Financial Times, was shared to Twitter by Tim Spiers on Monday morning – and fans were divided over what it meant for the Old Gold.
After Spiers had broken down the main points to be taken from the interview, some Wolves fans believed it to be a negative for Nuno Espirito Santo’s side.
Can’t help feeling we’ve slipped down the priorities for Fosun for whatever reason, (personal or political). The “best in the world” chat of a few years ago has been replaced by talk of being “self sufficient”. A shame, but always felt it was too good to be true.
— Jez Massey (@jezmassey) October 29, 2019
Basically they don’t want to spend anymore of there own money. Seems like a drastic change in attitude towards club progression. Can only see the negatives in this to be honest and its the last thing we want to hear with a big january window needed for us to progress.
— Chris Edwards (@ChrisEd72482299) October 29, 2019
Spending less on the team immediately rings alarm bells.. not got the ambition they promised.. either that or the fans have got carried away.. I reckon we’ll end up like Everton and scrap outside the top 6 for years to come
— Dan wolf (@dankol91) October 29, 2019
This is a little concerning
— Richard Morgan (@richieraccoon1) October 29, 2019
The Chinese conglomerate group, Fosun International, took over Wolves in 2016 – purchasing the club from Steve Morgan for a reported fee of £45 million (as per BBC).
In the following three seasons Wolves achieved promotion to the Premier League in 2018 under Shi’s guidance, with Fosun International having provided around £75 million to the club in interest-free loans (per The Financial Times).
With Wolves now looking comfortable in England’s top flight, the Chinese conglomerate is reportedly looking to lower their input and sell a stake worth £50-£100 million in the club; which some fans saw the positives of.
Once fans have calmed down from picking the negatives out, that is actually a very positive interview from Jeff Shi. Fosun are looking long term and this will not be rushed. FFP makes it harder & clubs have to be self sufficient which we are becoming. Bigger picture people #wwfc
— Jonathon Giddings (@Giddo_90) October 29, 2019
Why don’t they just spend £100 million like Fulham and then they can relegated too! You don’t get points for how much you spend, buying the right players with potential and an excellent manager and back room staff is where it is at.
— Nick Turner (@NickTur26839802) October 29, 2019
Obviously the initial reaction is one of tentativeness. But overall, this appears positive. The club is becoming self-sufficient and Fosun remain hungry to help the club succeed. Finding a willing investor with the right credentials in the coming 18 months would be great.
— Tny Wilde (@TonyWilde99) October 29, 2019
Well that’s fair enough. Plenty of revenue from the Premier League to continue team investment plus they couldn’t do it (continue to fund signings) anyway without sanctions due to profit and sustainability rules.
— Adam (@YadvinArgyle) October 29, 2019
What do we think?
While fans may be quick to complain over this perceived lack of ambition, the club has come a long way in three seasons and are in a good place financially (per Express and Star).
While a new incoming at the very top will always cause some uncertainty for fans, Shi seems confident that they would only be willing to sell the stake to the right person (per The Financial Times).