Wolves revenue falls as club announces loss of £46.1m

Turnover dropped from £194m the previous year to £165.6m with the club receiving significantly less in Premier League broadcast payments due to fewer matches being played, as football returned to a normal schedule following the pandemic.

Wolves lost £50m on player trading with a combined £65.1m spent on the likes of Josa Sa, Rayan Ait-Nouri and Yerson Mosquera, while £15m was recouped from the sales of Rui Patricio, Rafa Mir and Owen Otasowie.

The club has spent more than £120m on signings since the end of the last financial year on May 31, with the accounts also revealing they now owe more than £100m in bank loans, secured against future broadcast revenue. Wolves also borrowed around £13m from parent company Fosun, interest free.

Wages fell by nearly £20m to £120m though the highest paid director, thought to be chairman Jeff Shi, received a pay rise of £212,000 to £612,000.

The club have spent the current season battling against relegation from the top flight and currently sit 13th in the table.

The group strategic report, signed by director Matt Wild, read: “Going forward, the aim is for the group to establish themselves as regular challengers for qualification to European club competition.

“The directors have a continued commitment to continuously improve the group, from both a footballing and wider operational and strategic perspective. Supported by continued success in the Premier League and cup competitions, both European and domestic, the directors consider prospects for the company to be excellent.”