Fosun sale stance unchanged following reports of US bid for Wolves
Wolves’ owners Fosun are expected to reject an offer to buy the club from US businessman John Textor.
Reports claim Textor, formally a minority owner in Crystal Palace, has offered £150million in cash and a further £260m in shares in his Eagle Football Group.
But the deal is not expected to go anywhere, with Fosun only interested in selling a minority stake in a club they bought for £30m in 2016.
Textor sold a 43 per cent stake in Palace earlier this year in order to allow the Premier League club to compete in Europe, with the majority stake Eagle Group also holds in Lyon seen as a breach of Uefa’s competition rules.
The 59-year-old would like to replace Palace with Wolves in a portfolio of clubs which also includes Brazilian club Botafogo and RWDM Brussels of Belgium.
Textor’s current situation is complicated owing to his involvement in several legal disputes but this is largely irrelevant to Fosun, who have no desire to sell a full stake in Wolves.
Sources close to the ownership group insist they only remain interested in attracting minority investment despite increasing frustration from supporters at the club’s alarming decline on the pitch.
The Chinese conglomerate enjoyed huge early success, with Wolves winning promotion from the Championship and reaching the quarter-finals of the Europa League in the first four seasons of their tenure.
But they currently sit bottom of the Premier League having failed to win any of their first nine matches for the second season running.
Sunday’s 3-2 home defeat to Burnley again saw fans call on the owners to sell the club.
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