Keith Wyness hails ‘amazing’ Wolves takeover deal that bodes well
Wolves’ rebuild could take up to a decade amid the club’s likely relegation to the Championship which would end their seven-year stay in the Premier League.
That is according to ex-Everton, Aston Villa, and Aberdeen chief executive Keith Wyness, speaking exclusively to Football Insider, as Wolves’ owners say they do not want to sell the club.
Wolves fans have protested against the ownership at matches this season, with the club sitting bottom of the table with just two points from 16 games.
Rob Edwards’ appointment as Wolves manager in October was seen with a view to playing in the Championship next season.
Wolves ‘preparing right now’ for Championship challenge
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 Wolves are reentering a ‘rebuilding phase‘ at the club.
Speaking on the new edition of Football Insider‘s Inside Track podcast, Wyness thinks the club are already preparing for the second tier.
He told Football Insider‘s Inside Track podcast: “I’ve observed Wolves for a long time when Jack Haywood used to own the club. There was that period of uncertainty before Steve Morgan. Steve Morgan bought the club for 10 pounds, which is still one of the most amazing deals, but he did it on the promise that he would spend 30 million, which he did, and he invested. And Steve did a really good job.
“And then Fosun came in and bought it. So we’ve seen Wolves go through some iterations. So they’ve had bad times before, and it does seem to me that they’re going to find themselves into more of a rebuilding phase again, back reminiscent of when Steve Morgan took over.
“So, you know, Steve Morgan took nine years really to build the club back up again and get it going. So it could be a longer period, as we all know, the Championship is very tough.
“But I think that they’re almost preparing right now, bringing Rob Edwards back, Matt Jackson in place. It’s almost as if they’re preparing right now for that challenge for next season, which is probably the right thing to do.”
Wolves face financial hit
Wolves are facing a £20million blow if they are relegated from the Premier League this season, which could lead to PSR problems at Molineux.
Relegation to the Championship will mean Wolves will have to make cuts amid an expected drop in revenue.
Many of Wolves’ top players are expected to leave the club either in January or in the next summer transfer window.