Wolves are expected to comply with Premier League spending regulations having reported a loss of £67.2 million for the financial year ending on May 31, 2023. This follows a previous year’s loss of £46.1 million. Premier League rules allow clubs to incur a maximum loss of £105 million over three years or £35 million per year before facing sanctions.
Wolves aimed to manage their finances carefully to avoid penalties particularly after Everton received a ten points deduction later reduced to six points. Manager Julen Lopetegui departed in August, expressing frustration over limited summer spending.
Gary O’Neil took over with Wolves currently in ninth place in the Premier League and progressing to the FA Cup quarter-finals. Nottingham Forest charged with financial rule breaches last year awaits a hearing this month. Despite the financial losses, Wolves achieved a net profit of £82.98 million from player trading.
Chinese swimmers competing in the Paris Olympic Games will undergo double the standard drug testing,…
England once again fell short in their quest for a major trophy, losing 2-1 to…
Kevin Sinfield, who initially planned to leave his coaching role with the England team after…
Hwang Hee-chan allegedly faced a racist remark from a Como player during a pre-season friendly…