Express & Star

Jez Moxey: Wolves could spend big with new owner

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Jez Moxey believes Wolves have the right foundations for big success if the ideal new owner is found.

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The chief executive said if Wolves could convince any new owner to spend money at the levels seen at Derby and Middlesbrough this season, who have spent roughly £30m each, then the club could perform 'really, really well'.

Giving a takeover update, Moxey told the Express & Star that Wolves remained in discussed with some interested parties, but there was nothing of real substance to report.

On finding the right owner to replace Morgan, he said: "Steve Morgan, when he came in, said he wouldn't be an open chequebook owner.

"And he invested a load of money, we've spent a load of money on players and infrastructure.

"But the policy we've had to follow is one of trying to make the club as self sufficient as possible.

"And that's what people forget.

"If we have a new owner and we can convince them to become a Mel Morris (at Derby), or a Steve Gibson (at Middlesbrough), or whoever else, we actually think we could perform really, really well in those circumstances.

"We think we could be set up to benefit from that opportunity, as good or better than most.

"So when people want to cast aspersions about what we do, they should remember those two things first and foremost."

It is believed that around 50 potential new owners have shown interest, although the majority of those haven't got past the initial inquiry stage.

Moxey added: "Nothing is going to please me more than to achieve promotion.

"And when we've been given money, in 2002/03, or 2007/08, we got promoted.

"What I do as the chief executive is follow the directive that's been set by the owner, and do the very best we can under the enormous difficulties football clubs face to get that balance right."

As for Morgan's current involvement with the club, Moxey added: "He's no longer a director. He's not here at games, that's different. But when it comes to big decisions, of course he's involved, he's the owner."

"We're up for sale, we've been asked to run the football club is a self-sufficient way.

"Yet Steve Morgan, despite what could have happened in January, said, yes, you want to go and spend some money, by all means."