Fosun set for takeover ‘disaster’ after devastating Wolves blow
Wolves are all but certain to be relegated to the Championship following their miserable first half of the season.
Wolves lost 2-1 to Liverpool on Saturday (27 December), ensuring they remain rooted to the bottom of the Premier League table on just two points.
Rob Edwards is facing an uphill battle to turn the West Midlands side’s fortunes around after being appointed as their new manager last month.
It has been confirmed former executive chairman Jeff Shi has stepped down from his role after spending almost 10 years at Molineux.
Shi will remain chairman and chief executive of Fosun Sports Group – the company that owns Wolves – but he will have no operational duties associated with the club.
Wolves set for 'big overhaul' after relegation
Former Man City financial adviser Stefan Borson exclusively told Football Insider Wolves are set for a “big overhaul” as they prepare for life in the Championship.
There has been plenty of speculation around a Wolves takeover over the past few months, with Fosun believed to value the club at more than £350million.
Speaking exclusively to Football Insider about the significance of Shi’s departure, Borson said: “I think it's just a culmination of changes that are going to be required. The club is not really set up for the Championship.
“I would assume that they've all got relegation clauses, so that's positive in that they'll be able to reduce the playing side wage bill in half let's say. That will insulate them somewhat.
“They do tend to be good sellers of players. They've probably got a couple of players that they'll be able to sell that might save them on the P&S position on relegation, so that might be okay. But I think there's going to have to be a big overhaul generally.”
Wolves fans have protested against their owners following the club’s on-field performances and the decision-making behind the scenes.
Fosun has received Wolves takeover offers
Borson insisted relegation to the Championship would be a “disaster” for Fosun in its hopes of selling Wolves.
“I mean, the club was for sale anyway,” said Borson.
“They have been receiving offers. It's a disaster for them in that respect. If you're trying to sell a club and then you get relegated, you obviously have got yourself a problem because the value is going to change materially, unless you can guarantee a bounce back.
“I don't think anybody really can guarantee the bounce back from the Championship. It's a very competitive league and we'll have to see what the shape of the squad is next season and how they start, so they've got a big problem.”
Wolves are 16 points from safety at the bottom of the Premier League table, while their next fixture sees them take on Man United at Old Trafford on Tuesday (30 December).
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