Offer fails to attract bids

Wolves chief executive Jez Moxey has admitted that Sir Jack Hayward's half-price offer has failed to lure any serious bidders.

One month on from Sir Jack's impromptu radio broadcast offering to hand over ownership of Wolves for £20m, Moxey said there had been no serious interest.

With little prospect of immediate investment, Wolves are content to continue with the "brick by brick" strategy of blooding young players and scouring the lower leagues for potential bargains.

And the lack of a fresh investor leaves the club even more reliant on Sir Jack's personal investment to fund any movement in the January transfer window. It is understood Sir Jack, pictured, has pledged to top up Mick McCarthy's transfer war chest by around £1m.

"The situation is pretty much status quo, to be honest," Moxey said. "As is often the case in these situations, we have had the odd person phoning us up, but it has been nothing substantial and certainly nothing serious.

"At the moment we're carrying on with the financial plan that has been put in place to ensure the continuing progress of Wolverhampton Wanderers."

Last month Sir Jack publicly lowered his original asking price of £40m in an attempt to lure new investment. Wolves' owner also claimed he would be willing to talk to Serbian tycoon Milan Mandaric - but his consortium was too far along his takeover at Leicester City to be able to put together a serious bid.

Sir Jack also appealed for a local businessmen to combine rescources for a bid, but, even at a lower price of £20m, that appears highly unlikely.

Moxey today stopped short of saying the board are not involved in discussions about future investment, but he made it clear there is little prospect of an immediate takeover.

"The club is continuing along the course it has been moving along for a substantial period," Moxey said.

Meanwhile, Plymouth Argyle boss Ian Holloway has rubbished reports that Wolves are set to bid for Northern Ireland left-back Tony Capaldi.

"I imagine somebody would be interested in a player of his quality, but Wolves have not been in touch," Holloway said.