Ricky Wells extends his stay with Wolves

And the popular Californian has revealed how he would like to spend the rest of his top-flight career at Monmore Green.

Wells is back at his United States home after a brief racing holiday in Australia and is also in talks about a return to Premier League Sheffield under the doubling-up rule.

He said: "It feels good to be back with Wolverhampton, the management and everything about the place is perfect for me.

"I love the Wolves track and I have some local sponsorship from Dave Burns, of Recycled Aggregates, who also sponsor Dudley.

"I would like to think I can spend the rest of my time with Wolves but you never know in this game, I understand how it works with averages and stats.

"I felt I did OK with Wolves last year and it was so nice to get the award from the supporters, it meant a lot to me.

"I seemed to settle on the Wolves track quicker than I did with Sheffield, that's all down to the track I feel. The shape is perfect for me but to become a better rider I have to learn to race on all size and shapes."

Wolves owner Chris Van Straaten is pleased to add Wells to confirmed starters Adam Skornicki and Freddie Lindgren.

He said: "We are delighted to welcome Ricky back for the 2013 season.

"I can confirm he is also in negotiations with Sheffield about a Premier League place and once those negotiations have been completed we will look to open negotiations with Coventry regarding his contract.

"He is a firm favourite with the supporters and had a fine season with us, he feels confident he can improve further."

Wolves are expected to confirm their next signing before the weekend.