Wolves have teamed up with Warner Music to launch a record label.
The agreement marks the first record company powered by a football club in England.
It’s outside the box and will raise eyebrows but Wolves general manager Russell Jones has explained the thinking behind it to the Express and Star.
“It is absolutely true that we want to grow the club. To give context, our current commercial revenue is 600 per cent less than Tottenham and 1000 per cent less than Manchester United.
“This isn’t something that we have decided to do on a whim, we have been working on Wolves Records in the background for 12 months. We have a very talented team already working on the project.
“I completely understand that football will always come first for our fans. All of our recent initiatives have a similar purpose, to grow our fan base, increase exposure for our partners and increase commercial revenue.
“The bigger our commercial revenue, the bigger our opportunity to support the club, be that via transfer activity or stadium improvements.”
Wolves are clearly trying to increase their revenue streams and are getting creative.
That’s seemingly the only way the club can see to sustainably challenge the established elite in English football in a sustainable manner.
The example of United is a good one because they generate their commercial revenue through a variety of sources.
Time will tell how successful it is for Wolves, and the fans will want to see the extra revenue invested in new players after a disappointing transfer window.
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