Jez Moxey: We'll splash out on a new Sako

Wolves are set to splash the cash this summer to replace Bakary Sako – and have vowed to keep Benik Afobe.

Out-of-contract Sako has decided his future lies in the Premier League and has offers from Albion and Villa among others.

Wolves are resigned to losing the 27-year-old on a free transfer but will invest to replace the 14-goal top scorer.

"We want to improve and you must have some finance to make improvements," said chief executive Jez Moxey.

"We bought Bakary Sako for £2.5m and he's running out of contract so we have to replace him. Now to do that, inevitably, we're going to have to spend money on buying players.

"That's the gig and our owner understands that. It comes at a price, but we're willing to do that."

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Moxey said a replacement of the quality of Benik Afobe was being sought. "We want to get players similar to the ones we've got, so if we can find players like Benik we'd do it," he said.

Wolves, who will soon enter the final year of £8m Premier League parachute payments, have some leeway after paying off high earners Roger Johnson and Jamie O'Hara and releasing Kevin Doyle.

"We've still got one or two 'legacy' issues, but we're going to be in a better position than in the last couple of years," said Moxey.

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Wolves are resigned to losing Sako after Moxey described the winger's Premier League offers as "on a different stratosphere" to what Championship clubs can offer.

Head coach Kenny Jackett said: "I think come August 8 he'll be playing Premier League football."

Wolves are confident they will keep Afobe, despite reports linking him to Albion and Crystal Palace. "Benik's got a home, a regular starting place and feels this is his club," said Jackett.