Gary O’Neil has today been speaking about Wolves’ current position regarding Profit and Sustainability rules and Financial Fair Play, with two Premier League clubs reported to be in a bit of trouble.
It has been reported that Everton and Nottingham Forest are both expecting to be referred to an independent commission over breaches of the Premier League’s PS rules.
Clubs are allowed to lose a maximum of £105 million over a three-year cycle.
At the moment, both of these clubs are said to be at risk of a fine or a points deduction.
There has been a bit of talk about Wolves in recent days, with one report suggesting that the club were close to breaching the rules.
But today, Gary O’Neil has allayed any fears about the club’s financial position…
Gary O’Neil says Wolves are not in any danger regarding PSR rules
Today at his press conference, O’Neil shed a bit of light on the current situation at Wolves.
Some have wondered whether Wolves may also be in a bit of trouble like Everton and Forest (as reported by The Athletic), as there was a bit of noise in recent days.
But O’Neil has moved to state that Wanderers are not in a vulnerable position right now. Journalist Liam Keen quotes him as saying this afternoon: “I can confirm, as far as I’m aware, we have no concerns today over FFP. The club have been very open with me and we’ve worked hard to balance the accounts.”
Wolves certainly have worked hard.
In the summer, several high-profile stars were sold in order to balance the books.
Ruben Neves, Nathan Collins, Raul Jimenez and Matheus Nunes were all sold, with high-earning players Adama Traore, Joao Moutinho and Diego Costa all departing at the end of their contracts.
O’Neil’s comments are a relief
Obviously, Wolves’ financial situation in the summer was well documented.
The club had overspent, and the sales they made were entirely necessary in order to say the right side of the PS rules.
Thankfully, Wolves do now seem to be in a healthy position with their finances. Last week, sporting director Matt Hobbs also suggested that things were much better now after all the hard work in the summer.
Wanderers won’t be able to spend much money this window on new players, but there will be a least some wiggle room for loans and cut-price deals.