What a good time it is to be a Wolves fan.

New signings, a £40million redevelopment of Molineux and now an upgrade to the training ground to attract the stars of the future.

Just a generation ago, no Wolves fan could have dreamt developments of this scale as the team and ground lay in tatters following years of neglect.

This is surely the most exciting time to follow the gold and black cause since the early 1970s, maybe even the halcyon days of the 1950s.

Under owner Steve Morgan’s astute guidance, the club is slowly but surely building for the future – all without saddling the club with debt.

Just like his multi-million pound Redrow housing empire, it is all on solid foundations.

Morgan knows he needs Premier League status to sustain interest and keep the crowds to then fill the new Molineux, which should be to a 37,000 capacity venue in four years’ time.

With the club continuing to develop, demand could see the redeveloped ground hold 50,000 within a decade.

Not so long ago, academy jewels in the crown such as Robbie Keane and Joleon Lescott were groomed by Wolves only to be sold on, the club unable to offer them the grandest stages of all to parade their talents.

Today’s announcement as part of Morgan’s vision will ensure Wolves will have the facilities in a few years’ time to hopefully attract and keep the best youngsters in the area.

A few months ago, chief executive Jez Moxey was asked how good or big could Wolves become.

His answer was measured and typical of the re-assuring way the club goes quietly about its business these days.

Moxey made no lavish promises to rival superpowers Manchester United or super-rich Chelsea and Manchester City, but instead said: “We want Wolves to be as good as they can possibly be.

“Let’s do as much as we possibly can to make this club as big as it can get.”

His words belie a steely desire to improve the club’s standing at all levels and provide a rich infrastructure in which the future Wolves can only thrive.

These plans show Wolves are giving themselves the best possible chance – and fans should quietly rejoice.

By Tim Nash