According to Keith Wyness, the former head of Everton, Fosun International wants to sell a portion of their Wolves holding in order to increase their cash in January.
The 66-year-old, who currently operates a football consultancy advising elite teams, disclosed on the latest episode of Football Insider’s Inside Track podcast that the Wolves ownership group may sell up to 12% of their interests. The man was the CEO of Goodison Park from 2004 to 2009.
The club will have some cash from the sale of stakes to reinvest in the team in January in order to expand Gary O’Neil’s choices. After seven games, the Midlands club is currently bottom of the Premier League standings due to their winless start to the season.
Although it’s unclear if Wolves will have more money in January, Football Insider did report that the team is hoping to sign two free agents. Paul Dummett, a former defender for Newcastle, and James Tomkins, a former player for Crystal Palace, are two players O’Neil hopes to add to his roster.
Wolves could gain January spending power from Fosun’s stakes
Wyness told Football Insider’s Inside Track podcast: “That’s what I understand they’re focusing on.
“They’ve done this before when they have actually sold about 10%, and then that has been taken back or somebody else has bought it.
So, there is history for Wolves doing something like this.
“That will be their main way I think that they will find money for the January window.
“I believe there is something very close to being final, about a 10% stake maybe up to a 12% stake.
“So, that’s where I think Wolves should be looking for some input rather than Fulson bailing everybody out.
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