Wolverhampton’s rise to the Premier League will bring tens of millions of pounds of investment both into the club and the region, it was revealed today.

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As Wolves fans across Staffordshire and the West Midlands started looking forward to life in the higher profile Premier League, business leaders were hailing a shot in the arm for the economy.

Wolves look forward to a windfall of around £60 million and hotels, shops and pubs are also expected to benefit.

The club itself will receive an extra £30 million in television revenue, £24 million in League payments and an extra £5 million in sponsorship deals.

Wolves today revealed plans to again fill in one corner of the Molineux with 900 extra seats, taking the capacity to just short of 30,000.

The club has yet to start plans for a bus parade through the city when the campaigns ends – but says all options are still on the table.

Chief executive Jez Moxey said: “It’s only been 48 hours since we’ve been promoted after a champagne-filled weekend. Everything is open at the moment.”

Experts from Wolverhampton University today said the city’s economy would benefit to the tune of at least £2 million.

Councillor Neville Patten, leader of the city council, said today: “Last time Wolves were in the Premiership the hotels all reported increased trade.”

David Jukes, president of Wolverhampton Chamber of Commerce, added: “It will certainly raise the city’s profile both here and abroad.”