Steve Morgan in pledge over transfer 'treasure chest'

Wolves chairman Steve Morgan today vowed to invest "a very good treasure chest" in reviving the team next season.

Multi-millionaire Morgan revealed players will be bought and sold this summer but insisted the rebuilding will be done to return the relegated club to the Premier League as soon as possible. And chief executive Jez Moxey vowed to "excite" fans again.

Morgan, speaking to the 650 guests paying from £95 a head at the club's end of season awards dinner at Telford International Centre, said: "The one thing about Wolves is that we're in great financial health and we will have a very good treasure chest when it comes to the playing side.

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"There will be changes – some players will come, some players will go but that will be with one thing in mind and that's to get back up."

Morgan insisted: "We are more committed than ever.

"I am a very poor loser and we have lost this year. We've had a bad time and we have to sort it out. We have to put a poor season behind us, get back to winning ways and get back to the Premier League."

Morgan admitted "horrific decisions" had contributed to Wolves' relegation.

"It's hard to explain. We've had horrific injuries, horrific decisions and we haven't quite been good enough this year," he said.

"But do you know what? We will get back. We've had a blow and in life that's what happens sometimes.

"I grew up as a Liverpool fan and I'm well divorced from that. But in my life supporting a club, I've never supported a team that's been relegated.

"The one thing we're determined to do is to get back up off the floor, pick ourselves up and get back to the Premier League."

Moxey again said sorry for the hurt caused by the drop.

"We know how much relegation has hurt you because it has hurt us," he said. "But the tough times don't last. Like everyone we have made mistakes and for our relegation we must say sorry.

"But we hope to learn from our mistakes and we want to excite everyone."