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Fosun believed to be open to new Wolves investment

By Joe Edwards | Wolverhampton | Wolves | Published: | Last Updated:

Wolves owners Fosun are understood to be looking for fresh investment as they aim to make the club a Premier League heavyweight.

Guo Guangchang the chairman of Fosun International Limited and Jeff Shi Executive Chairman of Wolverhampton Wanderers (AMA)

The Chinese firm have enjoyed a Championship title win, a seventh-placed top-flight finish, a run to the FA Cup semi-finals and Europa League group stage qualification since taking control of the club three years ago.

And it is believed they are willing to sell a stake – retaining control as majority shareholders – to give Wolves the best chance of more success, with a top-six finish an ambition of theirs.

It has been reported elsewhere that Fosun value the club at £350million, and are up for selling a 20 per cent stake.

They bought the club for £45m and have spent millions more since, with this past summer's £32m buy of striker Raul Jimenez a club record.

In May, Wolves chairman Jeff Shi insisted Fosun would back Wolves 'forever' as he hailed the club as a special asset to the multi-billion pound business.

"I think we can see that football is special. Fosun can have many assets in the portfolio and some of them are much bigger than Wolves, but you see Wolves can give Fosun a lot of marketing exposure to the media and public," said Shi.

"Football is a special thing, and it's special for us.

"We had a discussion with (Fosun) chairman Guo (Guangchang) and I asked him, 'if Wolves win everything in the world, will you sell it at a good price?'

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"He said 'No, I will keep Wolves in Fosun forever.'

"Now, it looks like Wolves will be becoming a kind of legacy for the Fosun group, so it's not like something we buy and sell."

Shi added: "In Fosun, we have some assets maybe where we'll buy and sell, but some assets are very crucial assets which we'll keep forever.

"I think Wolves now is in the group where we will keep it forever.

"So, if we keep it forever, it means we'll try to keep investing, try to make the club better and better in the future."

Joe Edwards

By Joe Edwards
Multi-Media Sports Journalist - @JoeEdwards_Star

Wolves fan turned Wolves correspondent for the Express & Star.

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