Chinese company Fosun International is seeking new minority investors for its English Premier League club Wolverhampton Wanderers, according to media reports.
The BBC reports that Fosun wants fresh investment from sources outside China “to accelerate the club’s growth”, although there have been no talks yet with potential investors. The report says Fosun remains committed to owning the club, with the company’s chairman saying recently he would “keep Wolves in Fosun forever”.
Inside World Football reports that Fosun is open to selling a 20-per-cent stake in a deal that would value Wolves at £350m ($435m).
Fosun bought the club for £45m in 2016. It has been highly successful since then, gaining promotion to the Premier League in 2018 and finishing seventh in the division last season.
The club made a loss of £57m in 2017-18, but is expected to report better results for 2018-19, its first season in the Premier League.
Wolves chairman Jeff Shi has previously expressed a desire to develop the club’s home stadium Molineux to give it a 50,000 capacity, up from 31,700 at present.