We were very comfortable on FFP during the years just after promotion and before the covid pandemic, because of a relatively low wage bill, low-cost signings from the Championship and relatively stronger finishes in the league and Europe.Īfter a longer stay in the Premier League, we are now at a stage where we must pay even closer attention to FFP and manage it well. Before the end of 2023/24 season there will be an annual test and we are going to make sure we pass it, as we have done in the last five seasons.įFP sets a profit and loss limit for three rolling years, with a loss of £105m the threshold. They also share our happiness and excitement with every achievement, or positive step we make at the club, no matter how big or small.Īs the owners and management of the club, one important thing we must learn and follow is the Premier League’s rules on profit and sustainability (formerly called financial fair play or abbreviated to FFP). When we were in the Championship, when we were in the pandemic, when we’ve faced all kinds of challenges, on or off the pitch, the owners have always done their best to support us. The club is a long-term project and an important one for Fosun. Even in recent seasons, we have seen a lot of clubs in the UK and around the world struggle to maintain a sustainable balance of both sporting performance and financial strength.Īs we approach the start of a new season, I would like to take this opportunity to clarify a number of things for you…įirst of all, Fosun remains committed to Wolves and has never had any plans to sell the club. The latter is equally important, because we’ve seen many cases in the football industry where short-term achievement could not bring long-term success. We are also working hard to make sure the club have a long-term robustness and sustainability. We are working hard to try to improve our performance on the pitch at the moment, as we always do. I am also happy that we have been able to deliver our fans perhaps the most successful era in the latter decades of Wolves’ history and we wish to continue delivering it for the long-term future. ![]() I appreciate a lot the amazing and consistent support from our fans, since the very beginning. I am proud of the journey we have been on together, and the achievement and growth in that time. We are approaching the eighth season since Fosun’s takeover in 2016.
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