Wolves chairman Jeff Shi: Gradual Molineux approach will avoid financial dilemma

Fosun still plan to increase the capacity of Wolves' home towards 50,000 in the long term.

But, as stated by the Express & Star in May, the aim is to extend and improve existing stands rather than demolishing and rebuilding them completely – looking to retain the ground's unique character.

It is understood a drastic redevelopment of the Steve Bull Stand, the oldest at the stadium, would not see any return on the investment until decades down the line, too.

"We have a long-term plan for the stadium," said Shi.

"Eventually, we hope to have a larger stadium, but to expand, we need to be cautious.

"We don’t want to put ourselves into a financial dilemma by doing too much too soon, because in 20 years, anything can happen.

"We have seen many examples of how a new, bigger stadium can hurt and sometimes kill a club.

"What I’m planning to do is a step-by-step plan.

"We will not rebuild the stadium from zero, we want to expand some of the capacity here and rebuild some parts there. Expanding gradually will be safer."

Wolves recently had planning permission granted by Wolverhampton Council for a new temporary stand, between the Sir Jack Hayward and Steve Bull stands.

It will be made up of 500 seats and boost the overall capacity above 32,000.

Shi also says the more gradual process will allow Fosun to prioritise investment into Nuno Espirito Santo's squad.

"What is more crucial is still the 11 players on the pitch," he said.

"A new stadium is nice to have, but it’s a long-term ambition.

"Now my mind is clearer, we have already a solid plan for Molineux, and hopefully from next season we can start to make improvements and expansions year-on-year, and eventually we will reach that point."

Shi has been speaking about several matters at Wolves as part of his end-of-season update.

He added: "The progression of the club has been quicker than my prediction, but it’s not been quicker than what I had hoped.

"One part of my brain is very rational and says you have to be reasonable, cautious and go year-by-year, so on that part, it’s quicker than my rational prediction.

"But on the other part of my brain, it’s about passion. Of course, I want to see results quicker and sooner – like every fan does – we all want to win the next game.

"But for me, I have to merge the two parts together and find the balance.

"Eventually, you don’t know for sure if you’ll win the Premier League or Champions League in the future, you never know, but I think it’s more important to enjoy the road.

"We have a mutual aim and we are all working very hard together."