Wolves have warned their £40million Molineux redevelopment will only happen if the club remains in the Premier League.

Plans unveiled today show the ground transformed into a 36,000 capacity venue, which will see all three stands apart from the Billy Wright Stand replaced over the next four years from next summer.

Chief executive Jez Moxey reveaked the £15million to £16million of funds needed for rebuilding the Stan Cullis Stand and linking it up with a new Steve Bull Stand – the first phase of the project – are already in place.

Funding for the second phase, to take the level of investment up to £40million, would come through the riches of being in the Premier League and possibly a short term loan, but not to risk the club’s financial future.

Chief executive Jez Moxey said: “We want to do things sensibly and cautiously and we’re not going to get ourselves into financial difficulty.

“Staying in the Premier League is the be-all and end-all of everything we’re doing. It’s not dependent on borrowing either.

“We wouldn’t be proceeding with a huge capital project if we didn’t have confidence that we can do well.

“I think it’s a statement of the club’s ambition, that it has the confidence to contemplate a huge capital investment programme to improve the infrastructure and at the same time continue to invest in players.

“We want to be smart buyers in the transfer market and that will continue. We need to get value for money and I think Mick has done a great job in identifying us players who have given us that. We want to continue that as it goes forward.

“Clearly there is no point in doing this if we didn’t have confidence that our team can do well.

“We’re a football club and our business is football first. We have a long term vision of success for this football club and we are to try to compete, we have to expand, grow and get bigger.

“We have to generate more revenue streams that we can then use to invest back into the infrastructure and back into the team.

“Steve Morgan is absolutely determined that we will do that.”