Express & Star

Wolves safe despite owners Fosun shedding business interests

Fosun remain committed to Wolves despite the company shedding business interests, the Express & Star understands.

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Executive Chairman Jeff Shi (right) and owner of Wolves Guo Guangchang at Molineux (Getty)

The Chinese group is moving to ‘hasten its exits from non-core businesses’ to lower debt and become more sustainable, according to reports in China.

As a result, a number of Wolves fans have become concerned over Wolves’ future with their overseas owners, who bought the club in 2016 for £30million and have helped propel them into the Premier League and, previously, the Europa League.

However, the Express & Star understands that Wolves and subsidiary company Fosun Sports remain a key part of the Fosun International portfolio.

E-sports and other Wolves-related endeavours, including fashion, come under the Fosun Sports umbrella, while in 2021 Fosun Sports invested in North American E-sports brand Evil Geniuses and later that year they received investment from U.S. finance and technology firm, PEAK6 Investments.