LONDON, July 21 (Xinhua) -- English championship club
Wolverhampton Wanderers Thursday confirmed the Fosun Group op
China, chaired by Guo Guangchang, had become sole owners of the
club.
In a statement the new owners said their goal was to return
Wolves to the premiership.
On its official website Wolves said a sale and purchase
agreement has been signed which sees the transfer of the 100
percent ownership in Wolves and all its assets from outgoing owner
Steve Morgan and his Bridgemere Group to Fosun Group (Fosun).
The statement added the purchase of Wolves by Fosun has been
approved and fully ratified by the English Football League (EFL)
and its board of directors. The financial terms of the transaction
are private and confidential between the parties.
"Fosun are one of the largest investment groups in China. They
have stakes in various projects worldwide, including: Club Med,
Cirque du Solei, Folli Follie and Studio 8 etc. Fosun have attached
great importance to UK-based investments and they currently have
interests in Thomas Cook, Silver Cross, and Resolution
Property."
Fosun will currently have a football club board consisting of
four people. Jeff Shi, who led the negotiations on behalf of Fosun,
will become the Club's representative, alongside him will be Sky
Sun. Local businessmen and Wolves fans John Bowater and John Gough
will also continue to serve as non-executive board members.
The club's CEO Jez Moxey is to step down after 16 years of
service to Wolves. Enditem