Wolves bosses today moved to quash fears surrounding the £50 million development plans that will see new world-class training facilities for the club created along with a new school, university complex and housing development.

People living near to the Compton Park site had raised concerns about the 55 new homes being built on green belt land and possible traffic congestion. But club chairman Steve Morgan and chief executive Jez Moxey today said they wanted to set the record straight about the development.

“People think we’re taking away a huge open green space, but we’re not,” said Mr Morgan. “Half of what we’re proposing to build on is already buildings and the other half is just an overgrown field. There’s no public right of way to it.

“What’s coming out of this is just a massive amount of good. I can’t stress that enough. We keep using the expression ‘win win’ because everyone does win with this. The city of Wolverhampton wins with 150 jobs being created while we build it all.”

Under the plans, Wolves will build a new £6m FA Premier League Category One training academy on the St Edmund’s Catholic School site. The school will relocate to the Wolverhampton University campus by refurbishing some buildings and creating new ones under the Building Schools for the Future programme.

The club will donate its £1m Indoor Academy Arena at Aldersley Leisure Village to Wolves Community Trust to assist the charity in helping thousands of young, disadvantaged and disabled people.

Wolverhampton University will move from the Compton Park site and reinvest in a new multi-million pound proposed science facility on its city centre campus.

A development of 55 four and five-bedroom “executive” homes will be created on 7.5 acres of land at Compton Park by Mr Morgan’s Redrow Homes firm.

Responding to residents’ fears that this would spark an increase in traffic, Mr Morgan said it was believed the traffic count would be “substantially less” than if the university remained at the site.

A planning application will be submitted to the authority on September 5.