For a fee of £40 million, former owner of Wolverhampton Wanderers Steve Morgan decided to sell the English club as a Chinese conglomerate took over the Championship League club and the club is now expected to do significantly better than before as the new owners have revealed their desire to offload cash in reinforcing the team with players or whatever that might be needed.

The new Chinese investors that have purchased Wolverhampton Wanderers have already started to dish out a significant amount of cash as Ivan Cavaleiro was signed during the summer transfer window for a fee reported to be in the region of £7 million which is a club record. A few other players have been signed as well during the recently shut down transfer window.

The former owner of Wolverhampton Wanderers, Steve Morgan has stated that the Chinese investors is a good company and that the club should do good for the next few years as their future is starting to look better than before.

Steve Morgan said: “Fosun are a very good company,” he said. “They are a huge concern. They’ve got very deep pockets. I’m really hopeful they can take the club forward.”

GuoGuangchang is the group owner of Fosun and he has an estimated personal wealth of around £4.1 billion. He has not wasted time in signing players as a number of performers have been added to the squad and even a new manager has taken over as Walter Zenga replaced Kenny Jackett.

A lot of changes have been taking place in Wolverhamton Wanderers and hopefully all these changes and money that is being spent can help out the club in snatching a top spot in the English League Championship and get promoted back to the Premier League which is where they used to compete some time ago.