Sources: Wolves ‘dangerously close’ to points deduction – announcement days away
Wolves are ‘dangerously close’ to breaching Financial Fair Play rules when their 2022/23 accounts are released, sources have told Football Insider.
All 20 Premier League clubs were required to submit their updated financial reports by the 31 December.
Any breaches to Financial Fair Play regulations are set to be announced by the Premier League on Sunday (14 January).
Well-placed sources have told Football Insider that Wolves are ‘dangerously’ close to breaching spending rules.
Wolves chairman Jeff Shi published a letter to fans back in August, explaining that they “must pay even closer attention to FFP and manage it well.”
Premier League clubs are only allowed to lose £15million over a rolling three-year period, although owner investment can raise that limit to £105million.
Everton’s 10-point deduction earlier this season came as a result of the Toffees making excessive losses over the £105million limit.
Wolves’ 2021/22 accounts revealed the club made a net loss of £46.1million.
They also spent heavily in the 2022/23 transfer windows with £152million invested into the men’s first-team squad.
As a result of their spending, Wolves were forced to offload players last summer but the £53million sale of Matheus Nunes to Man City was completed past the cut-off date for the club’s 2022/23 accounts.
Nottingham Forest and Everton are two other top-flight clubs that are expected to cut it close to FFP limitations when any breaches are announced on Sunday.
Football Insider revealed last Wednesday (3 January) that Forest are at risk of a points deduction with their allowable losses cut down to just £61million over three years.
In other news, Wolves make move to sign Southampton star as three-man signing plan revealed