Express & Star

Wolves for sale: Steve Morgan stands down as chairman as hunt for new buyer begins

Wolves owner Steve Morgan has put the club up for sale and will stand down from his role as chairman with immediate effect.

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Morgan had made the decision to call time on his involvement at Molineux and will walk away as soon as a buyer can be found.

He bought Wolves from the late Sir Jack Hayward in 2007 for £10, on the condition he invested £30million into the club.

The 62-year-old has overseen promotion to the Premier League, back-to-back relegations and a return to the Championship.

A club statement said: "After much thought, Steve Morgan has decided to put his 100 per cent shareholding in the club up for sale.

"He will step down from the Board with immediate effect and day-to-day activities will continue to be managed by the chief executive with the current board overseeing operations.

"While the process of finding a new owner is being undertaken, it's very much business as usual for head coach Kenny Jackett, players, staff and all other stakeholders involved with Wolves.

"Steve would like to relay to all concerned that his ongoing commitment and financial support to Wolves will continue until a new owner can be found.

"He would like to thank everyone connected with the club for their support and backing over his tenure to date and, as always, wishes Wolves every success for the future."

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