Fans, Fosun and future – what next for struggling Wolves?

Fosun may be celebrating his tenth year in charge of Wolves in the Championship.

Bottom of the Premier League, nine wins short of winning in their first nine games and six points clear of safety.

Since losing six games in the top flight, they travel to Fulham on Saturday, when three desperately needed points would equal the 10-game start without success last season.

Fans sang “sacked in the morning” during Sunday’s home defeat against Burnley, the first time the former Porto manager had turned on him since he led them to safety last season, just 39 days after Pereira signed a new three-year contract.

Owners Fosun and executive chairman Jeff Shi are their main targets, but he is not one of them, and he urged them to stay together as they fought over a heated topic with supporters in the South Bank.

Ironically Wolves are in the “happy” basket along with other businesses like pram manufacturer Silver Cross and fashion brand Tom Taylor, which is split into health, wealth, and happiness.

Wolves are only a small portion of the larger picture, with their pharmaceutical companies producing cancer medications and the majority of their assets located outside of China.

Wolves remain the only English club still under Chinese ownership, and Fosun do not want to relinquish control.

Selling the club is not something the business are actively thinking about, even if they enter the Championship for the first time since 2018.

It is understood that selling a Championship asset would naturally result in a decline in value and that relegation would not have an impact on Fosun’s commitment and the level of backing would remain the same.

Any ideas they might have about the club would receive swift rebukes.

Since taking over, Fosun has reportedly lost between £250 million and £300 million in transfers and running costs. The club is expected to be valued at around £500 million.

John Textor, who previously offered to invest in Wolves’ executive chairman Shi, is interested in this.

The former co-owner of Crystal Palace, the American businessman, has the opportunity to return, and Wolves is open to further discussions, but Molineux is skeptical that it will lead to anything more concrete.

Sources suggest Textor’s initial offer was unfavorable, and he must now have the ball in his hands if he wants to return to the table.

The ownership of Wolves seeking investment is not new; in 2019 Fosun plans to sell a 20% stake worth between £50 million and £100 million.

Since then, minority stakes have fluctuated.

Fans have been vocal and obvious about Shi and the ownership, and those in charge are aware that it is nearly impossible to change their opinion once it has changed.

Before Wolves came back from 2-0 down to equalize with a last-minute winner against Burnley, supporters broke during the first half.

One of the chants read, “You’ve sold the team, now sell the club,” and Shi received more resentment.

It would be wrong for Fosun to ignore pure fan pressure, but they would also be wrong not to listen.

The owners have looked to cut spending in recent years after purchasing Wolves for £45 million in 2016 and making a commitment to invest between £20 million and £30 million in the first two years of ownership.

Shi claimed six years ago that it was crucial not to be completely dependent on Fosun, but they never completely raised the financial drawbridge.

Given that there have been numerous successful spending sprees, it was wise to reduce the spending and wage bill.

Matheus Nunes left Sporting for £38 million, despite being flattered before making a £53 million move to Manchester City two years ago, while Matheus Cunha’s £43 million move from Atletico Madrid is still a club record.

However, the highest summer signings for versatile midfielder Ladislav Krecji and Jorgen Strand Larsen’s £23 million move from Celta Vigo and the £26 million commitment to his versatility were made in a more conservative transfer plan.

Nelson Semedo, Raul Jimenez, and Joao Moutinho all received salaries of over £100,000 per week, while Pablo Sarabia, who was one of the club’s highest earners, joined Julen Lopetegui in 2023 as one of their highest earners but was unable to maintain a regular place before he left in June, saw the club burn.

Fosun wants a sustainable model, and Wolves have previously overpaid. The hard work is then finding better players for better prices after there is a direct correlation between wage budget and league position.

After a lavish investment, they will spend again in January, though not significantly, and the squad’s evolution is viewed as a new cycle.

Domenico Teti, a former employee of Al-Shabab in Saudi Arabia, took over as sporting director in the summer of 2016.

Pereira’s dismissal is a major reluctance.

Wolves are looking for consistency after losing to Lopetegui in his 2022 arrival after four managers in the previous four years, five if you add Steve Davis’ eight-game interim tenure.

Although the struggles cannot continue indefinitely, Pereira maintains the board’s and players’ faith ahead of the trip to Craven Cottage.

Wolves are not ready to fire Pereira despite having an ulterior motive and holding onto O’Neil for too long, which has been accepted.

The 57-year-old won their best top-flight run since 1970, winning six games straight between March and April, and will have more time to resurrect their fortunes.

He expressed disappointment that players who had lost valuable Premier League experience with Rayan Ait-Nouri, Semedo, and Cunha’s departures, which also resulted in a 15-goal squad gap, arrived late in the window.

With the addition of more homegrown players, Wolves will have to choose a new direction because none of the five new senior signings had prior league experience.

Pereira has made an effort to understand the city and its fans, drinking with them after winning last year and coining the adage, “first the points, then the pints,” and misses the friendship he shared last year.

However, only victories can bring about reconciliation.

He said, “Of course,” about missing the pub trips on Friday. I enjoy going to the pub to drink my beer when I’m happy. I stay at home and look for solutions if I’m unhappy.

My goal is to find solutions every day to ensure that my team, my players, and the club’s members are doing the same.