Wolves aim to find a Lerner

Aston Villa turned to the world famous financial advisors who found the Premiership club American billionaire Randy Lerner.

Rothschild advised on both the recent Villa and Manchester United takeovers and has advised Arsenal, Liverpool and the Premier League and Wolves hope their expertise can attract similar interest.

Wolves believe Souness' bid "undervalues"the club and believe they can attract better offers.In a statement issued by the club, Wolves said: "Souness' bid has been rejected primarily because it undervalues Wolves and the business opportunity available, especially in light of interest from other parties."

Wolves' chief executive Jez Moxey said: "There has been quite a lot of interest and confidential discussions have taken place with a number of potential investors.

"After giving careful consideration to (Souness') offer, Sir Jack and the board have unanimously decided to reject it formally on the basis that they do not believe it fully values the club and the opportunity.

"That offer is also significantly below proposals already put forward by other parties. In view of the interest shown by potential investors, and the discussions we have had with them, the board has decided to appoint Rothschild to act as the club's advisers.

"We feel Rothschild will give us invaluable advice and guidance in helping us secure. Not only financial investment, but also a new owner who will hopefully cherish the club in a manner in keeping with the traditions set by Sir Jack.

"It is Sir Jack's and the board's overriding desire to attract a deal that provides Wolves with the best chance of establishing and maintaining itself as a top Premiership club.

"Sir Jack will not profit from any takeover himself; any new investment would go into the club, for the benefit of Wolves. Sir Jack will continue to support the club and has already pledged additional funds for the January transfer window."