Gary O'Neil confident in Wolves' financial position
Gary O’Neil is confident Wolves will not breach financial regulations this season.
The club had to make a hefty profit to avoid breaking the profit and sustainability rules (formerly FFP) and submitted their accounts to the Premier League at the end of 2023.
Everton and Nottingham Forest are reportedly at risk and despite reports linking Wolves to that, it is understood the club are confident they will not break the rules, which state they cannot make more than a £105million loss over a three year period.
“I can confirm, as far as I’m aware, that we have no worries over financial fair play,” O’Neil said.
“I’m been comfortable with that since I arrived. The club were very open with me around what could and couldn’t be done this season.
“We’ve worked really hard to make sure the sheets and the accounts were balanced without trying to suffer too much on the pitch, and so far we’ve managed to do it fairly well.
“I’m hoping it’s just a short term spell and then look to try and progress again and build on the work done here. I don’t expect any surprises and I expect us to be completely fine.”
He added: “We’re extremely conscious (of it). People know the restraints we’re working with at the moment, but they also know the club have spent a lot of money in other windows, so we have some good players here that we get to work with.
“The transfer window this January won’t be as exciting as some of the Wolves fans have seen in the past, but we have some exciting players already here. It’s up to me to keep making sure we maximise what we have.”
Despite the restrictions Wolves are under, the club are still targeting a striker this month to bolster the attacking options.
O’Neil said: “There’s discussions going on and the idea letting the guys go as early as we did is it helps financially and free up some wages that we can use in the loan market or people that may be available.
“The club are working very hard on it and I’m confident we’ll be able to bring players in before the window closes, but that doesn’t mean we can guarantee it because things do move and change.”
