Jeff Shi has provided an update on Fosun’s plan at Wolves over the coming years, with the club searching for additional investors.
After a difficult start to the Premier League season, optimism is at a low point at Molineux.
The club are without a victory in the league this campaign and are on a horrendous run which has seen them win just two games in 18 matches in all competitions.
Therefore, Shi has come out and completed an interview to clarify many Wolves fans’ questions, including an update on potential investors.
Fosun are ‘still committed to Wolves’ but seek additional investment
In recent years, it is fair to say that Wolves have struggled to compete with other Premier League teams in the transfer market.
For the past two summer transfer windows, the Old Gold has seen a positive net spend with few big incoming signings.
This was believed to be because of PSR, however, Shi has now stated that Wolves were never at risk of breaching the financial rules.
While this news will no doubt anger the Molineux faithful, the chairman has now attempted to reassure the fanbase by suggesting that Fosun are looking to add more investors to the club.
He told The Telegraph: “We have been speaking with groups about minority investment and there is plenty of interest.
“We have to find the right people aligned with us. The valuation, terms, and how we work together for Wolves’ long-term future is all important.
“We are in a very active process now to have more investors to join us.”
However, claims that Fosun are planning on selling Wolves are unfounded as Shi also states: “Fosun has never been an owner to spend for fun. It is not in their nature or character.
“They always try to invest where necessary, to give the club a leadership team and foundation, but also empower the team here.
“The plan is to combine intelligence and teamwork, together with the cash injection, to build something for the long-term. That is always the way for the chairman, owner and group.”
Wolves cannot afford to stand still while Fosun search for minority investors
For many Wolves fans, Shi’s recent comments may feel like deja vu, and they are not wrong. It has been common knowledge throughout recent years that Fosun wants a minority investor to come in.
In 2022, The Times reported a similar story, yet almost three years later, there has been little development.
In the meantime, Wolves have gone backwards. The starting squad is significantly weaker and there has been no news on improving Molineux for years, with the Steve Bull Stand now far from Premier League quality.
Fosun need to realise that their policy will soon result in relegation and the start of the current campaign should have been the wake-up call they needed.
Instead, Shi’s recent interview will only anger fans more as the search for a second league win since April goes on.