Exclusive: Wolves takeover update emerges after John Textor bid
John Textor is likely to face little competition in his attempts to complete a Wolves takeover following the club’s recent struggles, sources have told Football Insider.
Textor has emerged as a surprise name to buy Wolves after selling his shares in Crystal Palace over the summer.
talkSPORT reported on 27 October Textor has launched a bid to purchase the West Midlands club, with the offer believed to consist of £150million in cash and a further £262.2m in shares.
Sources have told Football Insider the American billionaire is unlikely to face significant competition to buy Wolves due to the perceived limited growth opportunities on the pitch – and financially – at Molineux.
Vitor Pereira’s side are currently rooted to the bottom of the Premier League table, having picked up just two points from their opening nine games of the season.
Wolves plan revealed after John Textor bid
There has been speculation around a potential takeover at Wolves over the past year following their financial struggles.
Chairman Jeff Shi revealed Wolves were looking to bring in a minority investor last year, but that has so far failed to materialise.
Chinese conglomerate Fosun International, which has owned the club since 2016, is understood to not be looking to agree a full takeover and only remains interested in seeking external investment.
However, sources say Wolves are not currently an attractive proposition for investors due to their “complex” ownership and limited financial upside, having posted a turnover of £177.7m in 2023-24.
In terms of Textor, he sold his stake in Crystal Palace to Woody Johnson in July, with the deal believed to be worth close to £190m.
The American owns majority stakes in French club Lyon, Brazilian first division outfit Botafogo and Belgian side RWD Molenbeek through Eagle Football Holdings.
Meanwhile, Textor has been linked with a Sheffield Wednesday takeover, but questions remain over whether he’s in a position to agree a deal for a new club.
Vitor Pereira sack update emerges after Wolves struggles
Wolves’ hierarchy have come under fire from the fans following their lack of progress over the past couple of years.
The club have been close to breaching the profit and sustainability (PSR) rules, with top-flight sides only permitted to make £105m of losses over a rolling three-year period.
Wolves have sold multiple stars to avoid a PSR breach in recent transfer windows, leading to a decline in quality on the pitch.
Following the disappointing start to the season, Football Insider revealed on 27 October Pereira is likely to be given until the next international break to save his job.
Wolves are set to face Fulham on Saturday (1 November) and Chelsea on 8 November before some of the squad will link up with their national teams.
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