MX23RW : Thursday, December 13 04:48:09

Jeff Shi: 'Wolverhampton Wanderers financial losses are normal'

Shi: 'Wolves' financial losses are normal'
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Chairman Jeff Shi suggests that he has no concerns regarding the financial losses of Wolverhampton Wanderers as the club target promotion to the Premier League.

Chairman Jeff Shi has claimed that he has no concerns regarding the financial losses of Wolverhampton Wanderers since Fosun International's takeover of the club.

Fosun have provided funds for Wolves to try to earn promotion to the Premier League, and the West Midlands outfit currently sit at the top of the Championship standings.

However, should Wolves fail to secure top-flight football for next season, the club will likely have to sell players in order to comply with FFP regulations in the Football League.

Shi says that he remains happy with Wolves' financial work, however, and is comfortable with showing "ambition" to take the club to the next level.

"The loss is the nature of the league. Other clubs if they had real ambition they would lose money too. We have less TV rights revenue but the quality of the league is higher and higher," he told the Express & Star.

"The quality is even higher than the Portuguese league, so the quality is higher and if you want to get promoted you need high quality players, so you have to pay, but in the meantime, the TV right revenue is not only far behind the Premier League, it's far behind the French league and the Italian league. But we're recruiting players from those leagues.

"So on transfer business we're on an equal level, especially with the French league. But the revenue we get is far behind them. That's the problem with the league, so we have to take the loss."

Ahead of Tuesday's fixture with Reading, Wolves only hold a three-point advantage over second-placed Cardiff City.


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Tables
TeamPWDLFAGDPTS
1Liverpool1613303462842
2Manchester CityMan City1613214593641
3Tottenham HotspurSpurs16120430161436
4Chelsea16104233132034
5Arsenal16104235201534
6Manchester UnitedMan Utd167542826226
7Everton166642319424
8Bournemouth167272526-123
9Leicester CityLeicester166462120122
10Wolverhampton WanderersWolves166461719-222
11West Ham UnitedWest Ham166372325-221
12Watford166372023-321
13Brighton & Hove AlbionBrighton166371922-321
14Cardiff CityCardiff1642101530-1514
15Newcastle UnitedNewcastle163491322-913
16Crystal Palace1633101323-1012
17Burnley1633101532-1712
18Huddersfield TownHuddersfield1624101027-1710
19Southampton161691330-179
20Fulham1623111640-249

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