Fosun seeking new investors
Wolves owners Fosun are looking to raise around £80million to boost investment in the club.
The cash would also be used to expand the Esports ventures of Fosun Sports Group, the division of the Chinese firm of which Wolves is the biggest part.
Fosun previously secured outside investment in 2021 when Chicago-based company PEAK6 purchased a minority stake in the group.
They are now seeking a fresh capital injection, though the specific amount they wish to raise has not yet been decided, according to reports which emerged yesterday.
Options under consideration are thought to include the forming strategic partnerships, attracting private equity investments and other financial arrangements.
While some of the money raised would be invested in Wolves, a portion will go toward Esports. Fosun Sports became a minority shareholder and strategic partner with US firm Evil Geniuses in 2021.
Wolves have experienced a tough period in financial terms, due to their need to comply with the Premier League’s profit and sustainability rules.
The club brought in around £140m from the sale of 17 players last summer and were again restricted in the January window, when they were unable to recruit a striker to Gary O’Neil’s squad.
Though the club avoided any sanction and will have more room to manoeuvre in the summer, they will still have to be mindful of the spending limits.
Wolves are next in action when they host Brentford on Saturday.