Kieran Maguire shares Wolves reveal after confirmed news – ‘it destroyed their budget’
There are concerns that Wolves are an ‘agent-led club’ after they ‘destroyed’ their summer transfer budget.
That is the opinion of finance expert Kieran Maguire, who exclusively told Football Insider that Wolves’ summer budget was ‘destroyed’ by their heavy spending in January 2023.
Wolves spent £152million on new signings across 2022/23, but now face severe Financial Fair Play limitations in the Premier League that have halted their spending this summer.
As a result of their financial restrictions, manager Julen Lopetegui left his role at the club on Wednesday (9 August) just days before their Premier League opener against Manchester United.
Gary O’Neil has since replaced Lopetegui as manager, but club owner Jeff Shi is still unable to back him in the transfer market.
Maguire believes the lack of success from Wolves’ January signings has piled pressure on the hierarchy at Molineux.
“Wolves spent a lot of money in the January 2023 window and the legacy of that is that it destroyed their budget this summer,” Maguire told Football Insider’s Sean Fisher.
“If Wolves had made progress with their January signings then I don’t think there would be too much of an issue.
“But the returns from those players have been modest.
“It has put pressure on the manager and the club’s owners in terms of the quality of acquisitions made.
“It aligns with concerns that they are an agent-led club rather than a club making decisions on a holistic level.“
In other news, Kieran Maguire shares Wolves FFP reveal after summer transfer update