Wolves confirm sale to Chinese consortium

By iSportconnect | July 21, 2016

Wolverhampton Wanderers Football Club have confirmed the sale of the club that will see 100% ownership in Wolves and all its assets taken up by the Fosun Group headed by Chairman Guo Guangchang. 

The purchase of Wolves by Fosun from Steve Morgan CBE and his Bridgemere Group has been approved and fully ratified by the English Football League (EFL) and its board of directors. 

The financial terms of the transaction are private and confidential between the parties. 

Fosun are one of the largest investment groups in China.  They have stakes in various projects, including: Club Med, Cirque du Solei, Folli Follie and Studio 8 etc.

Steve Morgan CBE steps down after nine years as Wolves’ owner.

Jeff Shi Fosun’s Wolves representative said: “We are delighted to have completed the deal to become the new owners of such a famous and historic club as Wolves,” 

“We owe a great debt of gratitude to Steve Morgan for taking such good care of the Club and for placing his trust in us to become the new custodians of Wolves. During our conversations Steve’s great passion and vision for the Club and Wolverhampton was very clear and we feel privileged to pick up the baton from him. 

“And also to Jez Moxey for his tremendous contribution to Wolves. We are sad to see him leave, but after 16 years of loyal service we understand why he has chosen this moment as the right time to move on and we wish him well.”