Keith Wyness: Fosun are lacking one key thing which could see them trigger Wolves sale
Wolves’ ownership group are lacking one key thing which may see them sell the club in the near future.
The Midlands giants have had an awful start to the new Premier League campaign, sitting bottom of the table with one point from their first six games.
It comes off the back of a difficult summer for the Old Gold, in which star man Matheus Cunha completed a move to Manchester United, with Rayan Ait-Nouri also joining Man City.
Despite their abysmal form, manager Vitor Pereira was handed a brand new five-year contract by Wolves last week.
Fosun no longer have ‘appetite’ for Wolves
Everton’s former chief Keith Wyness – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – believes that Fosun no longer have the appetite that they once had for Wolves.
Speaking on the new edition of Football Insider’s Inside Track podcast, Wyness insisted that if the Old Gold were to drop down to the Championship, then the ownership group would lack the motivation to gain promotion back to the top-flight.
Wolves are in serious danger of relegation from the Premier League after such a poor start to the season, as well as the impressive performances of some of the newly promoted sides.
Wyness added that Fosun may want to refocus their attention away from the Midlands giants, which could trigger a sale.
He told Football Insider‘s Inside Track podcast: “In the real estate market in China, one of their biggest competitors basically went bust.
“Let me clearly say that Fosun are not in any financial danger, but nevertheless, I think you might want to see them refocus on the core businesses, and I don’t think Wolves is a core business for them.
“I think we may see some changes there, and that could be one of the reasons that they just need to just keep them up again. It’s a bit like a West Ham situation, where they’ve got to be up in the Premier League to create bidders and avoid the Championship, because it’s very hard to sell your club at a decent value.
“Now, if they were to go down to the Championship, that would be a big bite out of the Fosun balance sheet. And I don’t know if they’ve got the appetite to come back up again, as they did before.
“So look, it’s one of those to watch. But as I say, I think there’s some thinking behind the scenes at the parent company as to whether they really want to be involved with Wolves long term.”
Wolves need to refocus their ambitions
Over the summer, club chairman Jeff Shi boldly claimed that Wolves wanted to fight for European football and trophies.
His words have quickly come back to bite him after the Old Gold’s poor start to the season.
The issue for the Midlands club is that they did not properly invest over the summer, despite receiving heavy financial rewards for the sales of Cunha and Ait-Nouri.
They actually ended the transfer window in profit, which has left them with a much weaker squad than last season.
If Wolves continue to limit their spending then they cannot expect to be fighting at the sharp end of the Premier League and must focus on simply remaining in the top flight.
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