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Wolves navigate financial challenges, set to avoid Premier League breaches

Posted : 02 March 2024

Wolverhampton Wanderers (Wolves) are poised to avoid breaching Premier League spending rules, despite reporting a loss of £67.2 million for the financial year ending May 31, 2023. The figure comes after a previous loss of £46.1 million for the preceding 12 months.


Former manager Julen Lopetegui, restricted in spending last summer to comply with profit and sustainability rules, resigned ahead of the season's start.


Wolves, currently in ninth place under successor Gary O'Neil, have navigated financial challenges successfully, with the club positioned to remain within regulations for the 2024 financial year.


Clubs in the Premier League can incur a maximum loss of £105 million over a rolling three-season period, or £35 million per campaign, before facing potential sanctions such as fines or points deductions.


Wolves, avoiding financial rule breaches in 2023, believe they are on track to remain in compliance for 2024, although the margin may be narrower than desired.


The club made strategic decisions, including settling with full-back Jonny, and reported a net profit of £82.98 million from player trading. The Chinese owners, Fosun, invested £64 million during 2022-23, with additional investments intended to convert into equity.


Wolves' published accounts reveal a net spending of £160.7 million on players, bolstering the squad under Bruno Lage and later reinforcing it during Lopetegui's tenure. While the overall wage bill rose from £120.5 million to £141.5 million, Wolves' turnover increased from £165.66 million to £168.57 million.


 Anticipated growth in prize money, higher Premier League standings, increased television appearances, and an FA Cup quarter-final run are expected to contribute to further financial gains in 2023-24. Additionally, all clauses in Diogo Jota's 2020 transfer to Liverpool have been triggered, bringing the overall fee to £50 million.


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