Wolverhampton Wanderers takeover deal complete

Wolverhampton Wanderers have become the latest to club to be subject to a multimillion takeover deal by foreign investors.

The Championship club have been bought by Chinese conglomerate Fosun International for £45million.

They join fellow Midlands and Championship club Aston Villa to fall into the hands of Chinese investors after the Villains were bought by an investment group led by businessman Tony Xia a few months ago.

Previous owner Steve Morgan put the club up for sale last year, stepping down from the board in the process whilst a new buyer could be found.

The new owners, Fosun International, have links to super agent Jorge Mendes, whose clients include Cristiano Ronaldo and Jose Mourinho, and is expected to play some role in Wolves’ recruitment plans in the future.

Wolves finished in 14th place in the Championship last season, 16 points behind the playoff places.

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