Kieran Maguire makes Wolves transfer claim as ‘brilliant’ deal agreed
Wolves have a ‘limited’ summer transfer budget despite agreeing a ‘brilliant’ £99million loan.
That is the view of finance expert Kieran Maguire, who spoke exclusively to Football Insider about the details of the government loan.
As reported by Express & Star, Wolves are the first Premier League club to secure funding from government agency UK Export Finance.
The Midlands club have secured a £99million loan to help with cash flow and the repayment of other loans that had higher interest rates.
The loan was taken out last year, but details of the agreement only surfaced last month.
Finance expert Dr Dan Plumley hailed it as a ‘brilliant bit of business’ when speaking exclusively to Football Insider in July.
Maguire also praised the deal agreement but believes that Wolves are still having to carefully measure their spending this summer.
Julen Lopetegui’s side are facing Financial Fair Play restrictions despite selling club captain Ruben Neves to Saudi Arabian club Al-Hilal for £47million.
“We have to be careful regarding the Wolves £99million deal,” Maguire told Football Insider’s Sean Fisher.
“It appears to be a loan guarantee by the government as much as anything else.
“It does provide a bit of protection from a lender’s point of view, and from the club’s point of view it is a brilliant bit of business.
“Although it does appear that Wolves are having to tread very carefully in regards to their recruitment despite selling Ruben Neves to Saudi Arabia.
“The club’s ability to spend is being limited and measured cautiously.“
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