Steve Morgan sold Wolverhampton Wanderers to Chinese conglomerate Fosun International for £30 million.
The Sale Details
The transaction took place in July 2016, marking a significant change in ownership for the historic football club. Morgan's decision to sell came after he had been the club's owner since 2007.
Why the Deal Was Sealed
Former Wolves owner Steve Morgan has revealed that he chose Fosun from several interested parties due to their compelling commitment to the club's future. The key factor that sealed the deal for Morgan was Fosun's promise to invest a substantial £100 million into Wolverhampton Wanderers. This financial commitment was seen as a crucial element for the club's development and long-term success.
The sale details can be summarized as follows:
| Detail | Value / Description |
|---|---|
| Sale Price | £30 Million |
| Buyer | Fosun International |
| Sale Date | July 2016 |
| Key Agreement | Fosun's commitment to invest £100 Million into the club |
This commitment underscored Fosun's ambition for Wolves, moving beyond just the acquisition price to a wider plan for the club's growth and competitive standing.
For more information, you can refer to reports on the sale and the reasons behind it, such as articles from the Express & Star.
