Moxey vows that club will keep stars

Wolves chief executive Jez Moxey today insisted relegation will not spark a fire sale of the club's star players.

The drop to the Championship after three years in the Premier League will slash income by around £30m next season.

Premier League clubs earn a minimum of £40m through Sky and prize money, and parachute payments to relegated clubs are now £48m over four years, with £16m in each of the first two years following relegation.

Several players, including £7m club record signing Steven Fletcher, Matt Jarvis and Kevin Doyle are expected to attract bids. But Moxey said the club doesn't need to sell and would fight to keep its best players.

"We need to address the managerial position at the end of the season, and then, once that's resolved, address the playing situation," said Moxey. "What is for certain is that some players will go and some will be signed.

"We've had a difficult couple of seasons in the Premier League but we want to try to keep our best players.

"We're under no financial pressure to sell, but we also understand the realities of football. The club is in a financially robust state and we don't have a pound's worth of debt.

The fact we've been relegated will not mean the club will self-destruct."

Moxey refused to go into detail about the finances but added: "Relegation does mean a significant drop in revenue and no one is enjoying that situation. We will address it with a view to putting the best possible team on the field next season."

Moxey said plans to bring in a new manager were ongoing, and hasn't ruled out a role for boss Terry Connor.

"We're always working and assessing privately," he said. "We will address the situation once the season has finished and we will not be publicly drawn on the managerial position until then.

"Could Terry apply for the job? I can't see why not. He's our manager; he's Wolves through and through and he's managed the team through an extremely difficult period."