Kieran Maguire shares Wolves FFP reveal after £152m update
Wolves are struggling to comply with Financial Fair Play after ‘overstretching’ their finances in the last 12 months.
That is the view of finance expert Kieran Maguire, who spoke exclusively to Football Insider about Wolves’ financial struggles this summer window.
Wolves chairman Jeff Shi penned an open letter to supporters explaining the club’s financial situation as they work towards achieving “long-term robustness and sustainability”.
The Midlands club spent a total of £152million on signings over the 2022/23 campaign, but finished the season in 13th place in the Premier League table.
Football Insider revealed on Tuesday (8 August) that there are still doubts at Wolves that manager Julen Lopetegui could walk away from his role at the club.
Maguire explained that Wolves have had to ‘retrench and cut back’ to comply with Financial Fair Play regulations.
“I think Wolves fans have been surprised by the lack of activity this summer,” Maguire told Football Insider’s Sean Fisher.
“There have been more players leaving than coming in at Molineux.
“It’s fair to say that they probably overstretched themselves in the last 12 months and now have a hangover from some of those signings.
“Some of those certainly didn’t work out and ended up underachieving compared to expectations.
“As a result, they have had to retrench and cut back to comply with FFP and this has led to frustration from everyone connected to the club – especially as they didn’t have the best of seasons in 2022/23.“
In other news, Wolves will land Aaron Cresswell if they up bid by £1.5m