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Wolves' Financial Performance and Coaching Changes: Key Details and Future Outlook
- Gary O'Neil took over as Wolves head coach on 9 August, replacing Julen Lopetegui.
- Wolves recorded a loss of £67.2m for the financial year ending on 31 May 2023, following a loss of £46.1m in the previous year.
- Former boss Julen Lopetegui was restricted in spending last summer to comply with Premier League profit and sustainability rules.
- Wolves are on track to avoid breaches of Premier League spending rules.
- Clubs can lose a maximum of £105m over a rolling three-season period before facing sanctions.
- Lopetegui left the club frustrated with the summer recruitment strategy.
- Wolves' new head coach, Gary O'Neil, has guided the team to ninth place in the league and the FA Cup quarter-finals.
- Wolves did not face charges for breaching financial rules in 2023.
- Wolves believe they will not breach the rules in 2024, although by a smaller margin than expected.
- Wolves made a net profit of £82.98m from player trading.
- Non-player payroll costs increased due to compensation paid to head coach Bruno Lage and increased wages for Lopetegui.
- Chinese owners Fosun invested £64m during 2022-23 and an additional £18m.
- Wolves spent a net £160.7m on players during the most recent accounting period.
- Wolves' overall wage bill rose from £120.5m to £141.5m.
- Turnover increased from £165.66m to £168.57m.
- Anticipated increase in turnover for 2023-24 due to higher Premier League placing, more TV appearances, and FA Cup run.
- All clauses in Diogo Jota's move to Liverpool have been triggered, bringing the overall fee to £50m.
About the author
Alex Johnson
About
Alex Johnson is a dynamic and insightful sports journalist with a deep expertise in Premier League football. His vibrant writing brings a unique perspective to football analysis and reporting.
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