Wolves count cost of Premier League drop

Wolves were today counting the £30million cost of relegation after their three-year stay in the top flight ended in a crushing defeat.

Wolves were today counting the £30million cost of relegation after their three-year stay in the top flight ended in a crushing defeat.

Television rights, sponsorship deals and prize money will all be hit by the club's drop to the Championship, confirmed by yesterday's 2-0 home defeat by Manchester City.

Attendances are also expected to fall at Molineux – but owner Steve Morgan will save money in salaries because most players' contracts contain relegation clauses which will see their wages halve.

The drop is also expected to hit the city's businesses.

Henry Carver, chairman of Wolverhampton Business Group, said today: "The loss for the city comes in terms of the prestige of having a Premier League club. There is no longer going to be the huge marketing that puts Wolverhampton on the map.

"I think if the club manages to get back into the Premier League next season, it should be okay."

Premier League clubs earn a minimum of £40m annually from Sky TV and prize money based on where they finish in the league. Wolves will, however, receive £48m of 'parachute money' which relegated clubs get when they go down but that is spread over four years.

Wolves is committed to splashing out £18m on the 7,700-capacity Stan Cullis Stand, which will open for the start of next season.

But with Early Bird season ticket sales on a six-year low after just 12,150 seats were snapped up, the club faces kicking off in the Championship in front of thousands of empty seats.

Former Wolves goalkeeper Bert Williams said: "I think they have got every chance of coming back up into the Premier League."