Wolves will spend record amounts in this summer’s transfer window to maintain their stunning rise, according to Noel Whelan.

The Midlands giants have showed great ambition since they were bought by Chinese conglomerate Fosun in 2016 and have repeatedly smashed their transfer record.

Wolves announced in April they had signed Raul Jimenez for a club-record £30million, with the transfer fee topping the previous record signing of Adama Traoré, who joined for £18million from Middlesbrough last summer.

Speaking exclusively to Football Insider, ex-Leeds United and Coventry City striker Whelan is anticipating another eye-opening transfer market from Wolves after their seventh place Premier League finish secured Europa League football next season.

“I’m expecting Wolves to spend big this summer,” he said. “Records will be broken, I’m sure of that. They will be in Europe next season, which will mean they need a bigger squad.

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“The team has strength, flair and play an attractive style, and they surprised a lot of teams last season. Although they did not surprise me, as I had seen how good they were in the Championship the previous season.

“The owners are ambition, so I believe there will be plenty more top players coming in who can fit in. Everything has happened very quickly for Wolves, they are probably a year ahead of schedule in terms of where they hoped to be. But no one will be worrying too much about that.”

Nuno Espirito Santos steered the club to the Championship title in his first season at the helm and then oversaw an immensely impressive return to the Premier League.

Wolves finished seventh last season and reached the semi-finals of the FA Cup.

In other Wolves news, Danny Mills has suggested Leeds United target with an impressive Premier League record “is more likely to join Wolves”.