Molineux crowds have slumped – and that will hit Mick McCarthy’s January transfer budget, chief executive Jez Moxey admitted today.

Moxey said the slide is a “serious concern” for the Wolves board, who had budgeted for a loss of 4,000 fans on last season.

But disappointing crowds in recent weeks have seen the average gate slip below the 20,000 figure that the board had expected.

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Molineux crowds have slumped – and that will hit Mick McCarthy’s January transfer budget, chief executive Jez Moxey admitted today.

Moxey said the slide is a “serious concern” for the Wolves board, who had budgeted for a loss of 4,000 fans on last season.

But disappointing crowds in recent weeks have seen the average gate slip below the 20,000 figure that the board had expected.

And the hundreds of thousands of pounds in lost revenue may have a serious effect on McCarthy’s transfer war chest, Moxey said.

Wolves’ average attendance this season is 19,411 – more than 4,000 down on last year, and 7,000 down on the figure for the 2004/5 season.

Moxey said: “Of course, that is a lot of revenue that we have lost.

“We’re doing everything we can to back Mick by helping him to bring players in, but the drop in attendances makes it more difficult. If it continues we face the choice of either getting more into debt or not spending as much.

“Helping Mick to strengthen the team is still at the top of our agenda, but we have to live within our means.”

The Wolves board are hopeful that McCarthy’s more exciting brand of football – combined with the new manager’s growing rapport with supporters – will tempt back some of the missing fans.

But Moxey admits some fans are not convinced by the new financial outlook.

“I think some of our fans clearly have not bought into our new circumstances and are staying away. The 17,500 people that are attending the matches have been great. They have bought into our new outlook and there is more optimism and more realism.

“Maybe there are a significant proportion of our supporters who feel that we should not be having to take these sort of measures and that we ought to have more money available for players,” he said.

“But a lot of people said to me last season that the football was not enjoyable or exciting and I think Mick McCarthy has remedied that. We’re in good shape on the pitch.”