Wolves’ net spend in recent seasons has become a big topic of conversation amongst the Molineux faithful as the club continues to struggle in the market.
When Fosun first took over the Old Gold, spending was commonplace in the transfer market as the club went from a mid-table Championship side to a top-half Premier League team.
However, since COVID, the memories of high-spending seasons have been left in the past.
The 2023/24 campaign was by far the best example, as Wolves were forced to sell many of its stars to battle FFP.
However, with less than two weeks left of the current transfer window, Fosun are yet to significantly spend despite a large amount of money coming into the club through departures.
Therefore, Molineux News has listed the estimated net spend of Wolves for every season since Fosun took over the club to compare how it has changed over the years. A negative net spend will be represented in brackets.
2016/17 season – (£26.183 million)
Fosun’s first season at the club saw multiple new players from all over the globe enter the club. Many would barely make an appearance for Wolves, while others would go on to become the backbone of the team that won the Championship the following season.
Ins – Helder Costa (£13 million), Ivan Cavaleiro (£7 million), Romain Saiss (£3 million), Jon Dadi Bodvarsson (£1 million), Prince Oniangue (£2 million), Paul Gladon (£1 million), Ben Marshall (£1.2 million), Andy Lonergan (£500k), Silvo (free), Duckens Nazon (free), Ola John (loan), Andreas Weimann (loan), Cameron Borthwick-Jackson (loan), Richard Stearman (loan), Joao Teixeria (loan).
Outs – Kevin McDonald (£1.25 million), Rajiv van La Parra (£767k), Nathan Byrne (£500k), Bjorn Sigurdarson (free), Razak Boukari (free), Tommy Rowe (free), Liam McAliden (free), Zeli Ismail (free), Aaron McCarey (free).
2017/18 season – (£15.25 million)
The following year, Fosun became wiser in its transfer strategy. Many of the new signings were loan-based, with the Old Gold possessing the option to buy each one if they performed.
Ruben Neves also joined Wolves for a then-record fee as the club stormed the Championship under the guidance of Nuno Espirito Santo.
Ins – Ruben Neves (£15.8 million), Roderick Miranda (£2.5 million), Rafa Mir (£1.2 million), Barry Douglas (£1 million), Ben Stevenson (£500k), Will Norris (unknown) John Ruddy (free), Ryan Bennett (free), Phil Ofosu-Ayeh (free), Benik Afobe (loan), Diogo Jota (loan), Willy Boly (loan), Leo Bonatini (loan), Ruben Vinagre (loan), Alfred N’Diaye.
Outs – Nouha Dicko (£3.5 million), David Edwards (£1 million), Lee Evans (£750k), George Saville (£500k), James Henry (free), Andy Lonergan (free), Mike Williamson (free).
Read more: Wolves’ most expensive signings of all-time.
2018/19 season – (£60.84 million)
Upon earning promotion back to the Premier League, Wolves spent no time messing around.
Many of their loans from the previous season such as Diogo Jota and Wily Boly were made permanent moves. The transfer record was then broken again as they brought in Adama Traore from Middlesbrough.
Addition loanees were also brought in, including Raul Jimenez, who went on to become a fan favourite.
Ins – Jonny (£18 million), Adama Traore (£18 million), Rui Patricio (£16 million), Diogo Jota (£12.8 million), Willy Boly (£10 million), Benik Afobe (£10 million), Joao Moutinho (£5 million), Max Kilman (£40k), Leo Bonatini (£3.6 million), Ruben Vinagre (£2 million), Raul Jimenez (loan), Leander Dendoncker (loan).
Outs – Benik Afobe (£12 million), Danny Batth (£4 million), Barry Douglas (£3 million), Ben Marshall (£1.5 million), Prince Oniangue (£400k), Ben Stevenson (£200k), Dominic Iorfa (unknown), Paul Gladon (free), Ducken Nazons (free), Jonathan Flatt (free).
2019/20 season – (£83.2 million)
Another big season. After securing a seventh-placed Premier League finish and a subsequent place in the Europa League, Nuno’s side splashed the cash.
Jimenez was no doubt the biggest signing, with Wolves smashing their transfer record to keep the Mexican. On top of this, Dendoncker’s loan was made permanent and future star Pedro Neto would also join the team.
Ins – Raul Jimenez (£30 million), Daniel Podence (£16.9 million), Patrick Cutrone (£23 million), Pedro Neto and Bruno Jordao (£18 million), Leander Dendoncker (£12.9 million), Renat Dadashov (£400k), Leonardo Campana (free), Jesus Vallejo (loan).
Outs – Ivan Cavaleiro (£15 million), Kortney Hause (£3 million), Ethan Ebanks-Landell (free), Michal Zyro (free), Sylvain Deslandes (free), Jack Ruddy (free).
2020/21 season – (£3.95 million)
One of the least successful seasons in the transfer window under Fosun and for good reason. Fabio Silva joined for a record fee but has been nothing but a flop at Wolves. This combined with the sale of Jota only makes this year look extremely poor.
The only purchase which had any success at the club is Nelson Semedo, but it even took the right-back a few years to truly hit his potential.
Ins – Fabio Silva (£35 million), Nelson Semedo (£27.5 million), Ki-Jana Hoever (£10 million), Marcal (£1.78 million), Toti Gomes (£670k), Matija Sarkic (free), Willian Jose (loan), Rayan Ait-Nouri (loan), Vitinha (loan).
Outs – Diogo Jota (£40 million), Helder Costa (£16 million), Matt Doherty (£15 million), Ryan Bennett (unknown), Will Norris (unknown), Roderick Miranda (free), Jordan Graham (free).
Read more: Wolves’ worst-ever signings under Fosun.
2021/22 season – £550k
A very quiet year on the transfer front. The only major exchange in the first team was in the goalkeeping department where Rui Patricio left and was replaced by Jose Sa. Rayan Ait-Nouri’s move also became permanent in a forgettable year.
Ins – Rayan Ait-Nouri (£9.5 million), Jose Sa (£6.85 million), Yerson Mosquera (£4.5 million), Chiquinho (£3 million), Bendeguz Bolla (£800k), Sang-Bin Jeong (£1 million), Hayao Kawabe (£500k), Louie Moulden (free), Trincao (loan), Hwang Hee-Chan (loan).
Outs – Rafa Mir (£13.7 million), Rui Patricio (£10 million), Owen Otasowie (£3 million).
2022/23 season – (£93.4 million)
The most expensive year on the transfer front from Fosun. After a few bland summers, the owners chose to back Bruno Lage in the market. Multiple exciting faces were brought in such as Matheus Nunes and Goncalo Guedes, but they all failed to perform.
As a result, with relegation looking likely, Wolves were forced to splash the cash again in January and back incoming manager Julen Lopetegui. Thankfully, players such as Mario Lemina and Joao Gomes had an impact and the Old Gold stayed up comfortably.
Ins – Matheus Nunes (£38 million), Goncalo Guedes (£27.5 million), Nathan Collins (£20 million), Joao Gomes (£15 million), Sasa Kalajdzic (£15 million), Hwang Hee-Chan (£14 million), Mario Lemina (£9.7 million), Pablo Sarabia (£4.4 million), Craig Dawson (£3.3 million), Dan Bentley (£50k), Diego Costa (free), Matheus Cunha (loan), Boubacar Traore (loan).
Outs – Morgan Gibbs-White (£25 million), Leander Dendoncker (£13 million), Ruben Vinagre (£8.5 million), Leo Campana (£2.3 million), Willy Boly (£2.25 million), Sang-Bin Jeong (£2 million), Connor Ronan (£500k), Patrick Cutrone (unknown), Renat Dadashov (unknown), John Ruddy (free), Leo Bonatini (free), Romain Saiss (free), Marcal (free).
2023/24 season – £59.75 million
Last summer, Wolves were forced to sell many of its star players due to their financial troubles. The club were extremely close to breaching the FFP rules resulting in an exodus of players leaving as well as manager Julen Lopetegui.
Signings were eventually brought in near the end of August thanks to the then-record departure of Nunes to Man City.
Ins – Matheus Cunha (£44 million), Boubacar Traore (£9.5 million), Enso Gonzalez (£10 million), Santiago Bueno (£8.5 million), Jean-Ricner Bellegarde (£12.8 million), Matt Doherty (free), Tom King (free), Tommy Doyle (loan).
Outs – Matheus Nunes (£53 million), Ruben Neves (£47 million), Nathan Collins (£23 million), Conor Coady (£8.5 million), Raul Jimenez (£5.5 million), Ryan Giles (£5 million), Hayao Kawabe (£1.3 million), Matija Sarkic (£1.25 million), Adama Traore (free), Joao Moutinho (free), Diego Costa (free), Bruno Jordao (free), Jonny (free).
2024/25 season – £65.8 million
So far this summer, Wolves have made a healthy profit. Despite a flurry of signings in late June and early July, the club has since departed with Kilman and Neto, and no replacements have been brought in yet.
Ins – Tommy Doyle (£4.5 million), Rodrigo Gomes (£12.7 million), Pedro Lima (£8.5 million), Jorgen Strand Larsen (£2.5 million loan fee).
Outs – Max Kilman (£40 million), Pedro Neto (£54 million), Bendeguz Bolla (free), Louie Moulden (free).