Wolverhampton Wanderers Sold For £10 To Steve Morgan On The Provision That He Invests £30m

Sir Jack Hayward has decided to sell his beloved Wolves after 17 years of ownership. Hayward has sold his entire interest in the club for a nominal fee which is believed to be just Ten (10) pounds. The deal struck with Liverpudlian businessman Steve Morgan is subject to his investment in the club. Morgan will have to invest a sum of £30m to build a Wolves for the future, ensuring the existence of the club in the often unstable financial climate.

Even with the massive investment of Morgan, manager Mick McCarthy will not be able to employ an open cheque book recruitment policy. Which would only undo all of the good work he has achieved on a limited budget this season.

Chief Executive Jez Moxey will remain in his position to help ensure stability during the transition. Morgan had previously been involved in the bidding for Liverpool, only to lose out to the American partnership of George Gillet and Tom Hicks.