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Jeff Shi discusses plans to expand Molineux and potential new stadium

Wolves executive chairman Jeff Shi has been asked about his plans to develop and expand Molineux.

Shi and other senior figures at the club undertaken a wide-reaching interview which was published on the official website.

He was asked about plans to expand and revamp the ground and said he had two options.

The first is investment in the current stadium, and the other is a longer term investment in a new arena altogether.

Sam Bagnall – WWFC/Wolves via Getty Images

“The first option is to do some refurb, not so much investment. The highest priority is the Steve Bull Stand. I keep talking to try to make that happen sooner or later. The other option is long-term investment.

“A new stadium at the same location or whatever incurs at least £300 or 400 million investment. That’s big money to us. Normally, clubs loan money from the banks with a lower interest rate.

“In general, a new stadium, commercial or financial wise, is not a very sound project because you pay the money first upfront and then you need a very stable, smooth 15 years to get the money back.

We have to be careful. If you have any money spare, the first priority is the first-team, the starting 11, and even the academy is ahead of the new stadium.”

Jack Thomas – WWFC/Wolves via Getty Images

The wait continues

In one way, Wolves fans might be happy that whatever money there is available this summer will go towards the first team and the academy.

But there is a need for long-term investment into the ground to help the club go where it wants to get to.

At the very least, short-term, minor investment to improve the Steve Bull stand is needed and hopefully that will be forthcoming.

Aside from that, it seems Wolves are not close to finding a source to finance a new ground either on the site of Molineux or elsewhere.