Wolves reassure fans on takeover
Wolves today moved to dampen any worries that the club's takeover was in peril by insisting: "It will happen soon." Wolves today moved to dampen any worries that the club's takeover was in peril by insisting: "It will happen soon." Fans have been waiting with growing anticipation for their first sighting of new owner-in-waiting Steve Morgan since the club confirmed a deal had been struck with Sir Jack Hayward last month. Liverpool business magnate Morgan is paying Sir Jack £10 for ownership but pledging to provide £30m for future investment under the terms of the agreement. Read the full story in today's Shropshire Star
Liverpool business magnate Morgan is paying Sir Jack £10 for ownership but pledging to provide £30m for future investment under the terms of the agreement.
But, amid whispers circulating football that the delay in a formal announcement meant the deal was in trouble, chief executive Jez Moxey moved to calm any anxieties today.
He stressed that there were no problems with the agrement but that the delay was based solely on technical complexities being hammered out by legal teams.
Moxey said: "The complex nature of the ownership of Wolves by the Hayward Family Trust in the Bahamas, and the fact that the ultimate parent company is also based there, means that the legal details of this transfer of ownership are very technical.
"It is taking a bit longer than we first envisaged for the respective legal teams to finalise the documentation, but there are no fundamental problems with the deal.
"The delay is not holding up our summer recruitment plans, as demonstrated by the signing of Matt Jarvis from Gillingham yesterday. Both Sir Jack and Steve have given us the go ahead to pursue the players the manager, Mick McCarthy, has identified."
Meanwhile Wolves have suffered another knock-back in their bid to recruit strikers.
Championship rivals Burnley have stressed that Kyle Lafferty, one of three targets on manager Mick McCarthy's summer shopping list, is not for sale after turning down a formal offer of around £1m.
The setback follows similar resistance from Scunthorpe in Wolves' efforts to bring in Andy Keogh's former partner Billy Sharp.
And, while the Freddy Eastwood camp remain convinced his transfer from Southend is there for Molineux to secure at a moment of their choosing, efforts to add the two forwards McCarthy wants still have some way to run.
Wolves are also interested in Chelsea's teenage defender Michael Mancienne.