Wolves Promoted and Their Millions


Last weekend the first team to be promoted to the Barclay's Premier League was confirmed. In the same weekend, Manchester City was confirmed as champions of England. Wolverhampton Wanders, more commonly known as just Wolves were promoted. This will be their first time in the top flight since a disastrous relegation season in 2012 which ended with only 25 points and five wins from 38 games.

There are similarities between Manchester City and Wolves as both sides are backed heavily by Asian investors. In the case of the newly promoted side, they are backed by Chinese billionaire Guo Guangchang. The businessman who made his money in investments with Fosun International Limited. The man is the 34th richest person in a country of over a billion people showing just how strong his wealth is.  

The wealth that Guo has at his disposal has been splashed that is for sure in the English Midlands. A fine example of this is when Wolves signed Rúben Neves from FC Porto for a fee of £15.8 million. That is some fee for a player to play in the second tier of English football. The gamble, of course, seems to have worked at Neves and his teammates will be playing Premier League football next season. 

Nevertheless, all this spending did not go unnoticed and the clubs dealings with the super agent Jorge Mendes is under scrutiny. As the way in which the club is run and the details of Mendes’s influence must be fully disclosed, the process of this report will begin shortly. 
Who is Jorge Mendes this super agent then? Mendes, whose Gestifute agency looks after a number of world-class footballers, acts as an adviser to the Wolves owners. This has resulted in a number of the agent's players ending up at the club.

All this money at the Premier Leagues newest team as not gone down well with rival clubs in the championship particularly with Cardiff City and Aston Villa. The ill feelings are not down to the money being spent and envy but are unfortunately much more serious. 

As many people are questioning how a club the size of Wolves are able to attract such talent and keep within budget. With the owner of the club being linked in corruption cases in the past, you can see why these questions are being asked. As in 2015, Guo Guangchang was detained by police and why the reasons for this are unclear in the same year he was linked to a corruption court case. 

It is still unclear though if anything underhand is going on at Wolves and I hope for the integrity of the game nothing is happening. Although, as clubs in the English top flight have their finances examined with a fine tooth combe if anything underhand is happening it is sure to come out in the near future. 

While for now let's just congratulate Wolves on their promotion and hope more positive investments from Asia in the game in Europe will help build its popularity in Asia. 

Post a Comment

0 Comments