Kieran Maguire: Wolves in ‘trouble’ as £46m reveal leaves owners ‘desperate’
Wolves are in ‘trouble’ after reporting £46million losses in their financial accounts over the last year.
That is the view of finance expert Kieran Maguire, who spoke exclusively to Football Insider about the club’s accounts and search for minority investment.
Wolves published their financial accounts for 2021/22 at the start of the month (6 March), with the Premier League club reporting losses of £46.1million with a £30million drop in revenue.
The club recorded losses despite reducing their wage bill by £20million to £120million.
The Times reported back in December that Wolves owners Fosun International are searching for minority investment in the club, although a majority sale has been ruled out.
Maguire believes the Wolves owners are ‘desperate’ for someone to share the financial burden at the club, but questions what positives are in it for investors.
“I think it is indicative that unless you have a player model that generates money from sales, you are going to lose money and be in trouble in the Premier League,” Maguire told Football Insider.
“Wolves have invested significantly in players, and the fact that the wage bill was down £20million from last season shows the club are retrenching.
“Matchday income was £13millon out of their £165million revenue so they do not have an affluent fanbase of hospitality fans.
“The club are acknowledging where they are and it seems Wolves owners are now desperate and looking for someone to come in and share the burden.
“But what is in it for the minority partners?“
In other news, Agbonlahor urges Liverpool to complete ‘perfect’ Ruben Neves signing after £50m Wolves reveal