The Athletic reporter Tim Spiers has recently discussed the transfer spending of Wolverhampton Wanderers owners Fosun International.
In the summer of 2016, the Chinese conglomerate bought 100% of the Molineux-based club’s shares and assets from Steve Morgan for £45m (per BBC).
Following the takeover of the club, Morgan claimed in an open letter to supporters that Fosun had ‘made a commitment to invest between £20-30m over the next two years’.
A report from Price of Football earlier this year claimed that Wolves are now worth more than 10 times the £45m that Fosun paid to purchase the club just four years on from their arrival.
So, in the latest episode of The Athletic’s The Molineux View podcast, Spiers discussed Fosun’s investment into the club and claimed that it would not be slowing down.
He said: “I mean, there’s never been any signs of Fosun’s spending slowing down. It was £100m last summer, it was £100m the season before.
“Obviously, everybody’s going to be spending less apart from Chelsea this summer due to the uncertainty over everything that’s happening and nobody knows what their income levels are going to be this season.
“Fosun’s ambitions have still shown no signs of slowing down and Jeff Shi’s been talking recently again about wanting to make them one of the biggest clubs in the world.
“So, you can’t get much higher than Fosun’s ambitions and, like I said, with the autonomy [Nuno Espirito Santo]’s got, his love of the players and I think the fact that [Raul] Jimenez, [Adama] Traore, [Ruben] Neves are all staying as well, as it stands, then why would he want to look elsewhere?”
TIF Thoughts…
As can be seen in what the journalist had to say, he clearly believes that Fosun is still intent upon heavily investing in the transfer market to continue the Old Gold’s progression.
Could Wolves wish for better owners than Fosun?
No, they are fantastic
Yes, could be better
The fact Wolves have gone from finishing 14th in the Championship the season prior to Fosun’s arrival to ending the 2019/20 Premier League season in seventh speaks volumes about the owners.
So presumably, the Molineux faithful will be delighted with what Spiers had to say on Fosun’s intention to continue spending.