Wolves owners walking Premier League tightrope as transfer situation laid bare
Fans are often asked to ‘trust the process’, particularly during the 24-hour news cycle of a transfer window.
The current landscape sees every rumour amplified, every completed deal debated to the nth degree. So when things move slowly, frustrations grow and that level of trust - rightly or wrongly - quickly erodes.
There is perhaps no better example than the ongoing situation at Wolves. In less than three weeks, they kick off their latest Premier League season with a visit to Old Trafford to face Manchester United.
But as the calendar ticks towards August the sum total of Wolves’ business is a third-choice goalkeeper in Tom King - recommended by a goalkeeping coach who has since departed - and a returning squad player in free agent Matt Doherty, someone who they were all too happy to sell three years ago.
To add to the general feeling of uneasiness, going the other way has been a host of senior, high-profile members of the squad.
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Ruben Neves, Joao Moutinho, Conor Coady, Nathan Collins, Adama Traore and Raul Jimenez have all moved on, with more departures expected before the window closes. To the neutral this looks like a fire-sale of their best players; to some they look like a club getting ready for relegation back to the Championship.
And while the reality is quite different - only Neves was a regular starter under Julen Lopetegui - the depth in an already shallow squad has taken a serious hit. Lopetegui had pointed to the Financial Fair Play issues which were set to hamper the Midlands club during this window - issues which saw him question the position he took on just last year.
This is an entirely different project to the one which saw players like Matheus Nunes and Goncalo Guedes arrive for massive fees 12 months ago. Wolves have been at pains to repeatedly brief this is a window for shrewdness - loan moves and free transfers are the order of the day, and even if fees are paid, they will be relatively paltry compared to some of their top-flight rivals.
Limitations imposed by FFP regulations are the reason cited for such a dramatic shift in policy, but with sales likely to be close to £90m when all said and done, it’s a difficult pill difficult to swallow…or believe. What appears closer to the truth is that Fosun, a conglomerate centred around making profits on their investments, are attempting to walk the tightrope of making a profitable Premier League team rather than a successful one.
Ruben Neves joined Al-Hilal for £47m - and is the biggest name of Wolves' significant summer exodus (Getty Images)Wolves tried the other method, chairman Jeff Shi naively said that they would challenge Manchester City after winning promotion. Once it became apparent that wouldn’t be the case, ambitions have been dramatically shifted.
“For us, it’s all about balance. We obviously want to bring young players in, but the financial situation is tough this summer. We’re trying to be as creative as we can,” Sporting Director Matt Hobbs explained after signing Doherty.
That isn’t necessarily bad news, when Wolves have spent big - on the whole - it hasn’t gone particularly well. Craig Dawson, Mario Lemina and Joao Gomes were all more affordable deals and all added massive value to the squad immediately.
And so Wolves fans are left needing to ‘trust the process’ like never before. From being the neutrals' pick as ‘dark horses’ for Europe, this season will see them as popular shouts for the bottom three. It could quickly change, such is the nature of transfer windows in 2023 that three quick deals will significantly alter the picture.
BirminghamLive's former Wolves reporter Alex Dicken said: “Wolves’ lack of summer transfer business is understandably causing some concern amongst their supporters. Two squad signings will not improve the standard of Julen Lopetegui’s starting line-up.
Lopetegui's future has come into question after an impressive half season in the role (PA)HAVE YOUR SAY! Where will Wolves finish this season? Let us know in the comments
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“There is a feeling that Wolves are regressing, or at the very best standing still, while their rivals are strengthening. Wolves flirted with relegation last season and might not be so fortunate this time around, unless they find a way to negotiate FFP problems and add some quality to their squad.
“Lopetegui didn’t come to Molineux to fight relegation, that much was made clear when the Spaniard laid out his frustrations about Wolves’ financial situation at the end of last season. After doubts about the manager’s future during the close season, Wolves released a statement confirming he would be sticking around. If Wolves don’t make some serious inroads swiftly, those doubts will soon reappear.”
The hope is that Lopetegui remaining at the club was a sign that money will be made available, but the fact his request of players arriving by July 1 has already been unceremoniously ignored, doesn't bode well. A hike in ticket prices have done little to stem fears that at this point, Wolves are a vehicle for Fosun to profit from, with success on the pitch a distant second objective.
Things can change - they tend to in the transfer window - but currently, some Wolves supporters are being left with a looming trepidation that their sixth Premier League season in a row, could end up being their last.
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