A certain section of supporters have criticised the club's board for spending an estimated £18m on the new Stan Cullis Stand, rather than paying out for new players.
However, Moxey believes that the expansion is a necessity.
"We're more than just a football team," Moxey told the Express and Star.
"We take our responsibilities as a club very seriously and we're building an infrastructure at Molineux for the benefit of supporters and for the hope that the facilities will help us become a better team because Molineux hasn't been the greatest place for us.
"The whole point of the investment in the stadium is to bring the stands closer to the pitch and make it intimidating for visiting teams."
Wolves were relegated to the Championship on Sunday afternoon.