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Jeff Shi: Wolves' finances have never been stronger

Executive chairman Jeff Shi insists Wolves' finances have never been stronger as they seek investment to take the club brand worldwide.

Jeff Shi the executive chairman of Wolverhampton Wanderers.
Jeff Shi the executive chairman of Wolverhampton Wanderers.

The Molineux supremo said the club's financial strength 'historically is the best' though they are seeking more commercial support as well a big fanbase to continue to grow.

Shi also said the club is speaking to the city council about rebuilding Molineux, though he admitted there was no time frame for expanding the stadium.

In an interview recorded before the Express & Star revealed the club had taken out a £50million loan secured against Premier League television revenue, Shi said to Wolves official website: "Financially, in Wolves, we have never been so strong.

"I can tell you historically our financial strength is the best.

"At least, during my tenure here, I think – I have gone through the Championship period and the first season in the Premier League, so I know clearly about how strong our financial status is now."

He added that their search for commercial partners is also about more than investment – it is also a desire to take the club's brand worldwide.

"Regarding the funding it is not only about the funding itself, I think it is about that we need more commercial support, and also a big fanbase to help the club go into a high level in future," he added.

"Because eventually, the competition in the league is not only about the first team it is also about everywhere else.

"If you compare ourselves to maybe some big teams in the league, some strengths they have now is they have a much bigger fanbase and also they have much more commercial revenue than us

"So regarding the financial fair play, it's really not so easy to catch up with them in a short time.

"You can build a strong first team very quickly, maybe in two or three years, before that part it is not so easy.

"You need someone who knows how to help the club and in some markets; in Europe, in Asia, some big sponsor to us and someone who can help us market the club – that part we need more friends to help us."

He continued: "Only when we have strong support from all the friends around the world, and also when they're really buying our strategy, our direction and they really see the growth potential of the club – and more others, I think they will come.

"The stronger the team is, of course the better the future we have."

On Molineux, Shi added: "We are talking with the council, I do feel the stadium is not only for the club, it is also for the city, I think it is also for the economy of the city so the best strategy is talking with the council and try to get support from them.

"Also, we have the investment from the ownership but also I think if they (the council) may help us it may be very, very supportive and really will benefit both the city and club and all the fans here.

"So, we are talking with them but it is some process here and when you are talking with the government and they have their own process, procedure so let's wait and see but we are working very hard to try to make something happen in future.

"We have to be patient but eventually I think a big stadium will happen sooner or later.

"But I can't tell you the time frame now because that depends not only on us but all the participants in the city to help the stadium to happen."

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