Exclusive: Wolves in advanced talks to sell stake in the club – Keith Wyness
Everton’s former chief Keith Wyness has revealed that Fosun International are looking to sell some of their stake in Wolves to boost their January spending power.
Speaking on the new edition of Football Insider’s Inside Track podcast, the 66-year-old – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – revealed the Wolves ownership group could sell up to 12% of their stakes.
Selling stakes will provide the club with some money to reinvest into the squad during January to bolster Gary O’Neil’s options.
The Midlands club have had a winless start to the Premier League which has left the club bottom of the table after the opening seven fixtures.
Former Newcastle defender Paul Dummett and ex-Crystal Palace man James Tomkins are two players that O’Neil is hoping to add to his squad.
Wolves could gain January spending power from Fosun’s stakes
Wyness told Football Insider’s Inside Track podcast: “That’s what I understand they’re focusing on.
“They’ve done this before when they have actually sold about 10%, and then that has been taken back or somebody else has bought it.
“So, there is history for Wolves doing something like this.
“That will be their main way I think that they will find money for the January window.
“I believe there is something very close to being final, about a 10% stake maybe up to a 12% stake.
“So, that’s where I think Wolves should be looking for some input rather than Fulson bailing everybody out.”
In other news, Wolves Exclusive: Two big-name managers ‘very keen’ to replace Gary O’Neil.
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