Fosun have just agreed £677m deal as Jeff Shi reveals Wolves finance plans
Wolves owners Fosun have had their commitment to the club questioned in recent months, and especially after Gary O’Neil saw a flurry of his best players sold over the summer.
The Chinese firm, who control billions of dollars worth of assets globally, first bought into the club in 2016 and oversaw promotion to the Premier League, followed by a season in Europe.
But the relative lack of communication from the board coupled with the apparent scaling down of investment in the club led to speculation that they were attempting to sell the club.
Club chairman and Fosun representative Jeff Shi has distanced himself from those rumours, but he has confirmed that Wolves are seeking minority investment.
It has also emerged that Fosun plan to reinvest around £75m in Wolves and their esports portfolio.
And the latest news from the financial sphere may also give some indication about Fosun’s wider business masterplan and their ambitions at Wolves.
Fosun, or Fosun International to give them their full title, are one of the biggest private investment firms in China, with revenue of over £20bn in the last financial year alone.
Chinese investment in sport has slowed down at the behest of the government in recent years, but there are some indications that is may be beginning to ramp up again.
