Wolves: Fans, future and Fosun – what next for struggling Wolves?
Fan unrest towards the ownership and Shi has been vocal and obvious – and those in charge recognise it is near impossible to change supporter opinion once it has turned.
Supporters snapped during the first half against Burnley, before Wolves came back from 2-0 down to go into the break level, only to concede a last-minute winner.
“You’ve sold the team, now sell the club,” came one of the chants, with more anger directed at Shi.
Fosun will not bow to pure fan pressure, but they would also be wrong not to listen.
The owners, who bought Wolves for £45m in 2016 with a commitment to invest between £20m and £30m in the first two years of their ownership, have looked to curb spending in recent years.
They have never pulled up the financial drawbridge completely, though, despite Shi saying six years ago it was important not to be completely reliant on Fosun.
Reducing the spending and wage bill was a conscious plan, having spent big previously with varying degrees of success.
Matheus Nunes arrived from Sporting for £38m, although he flattered to deceive before a £53m move to Manchester City two years ago, while Brazil forward Matheus Cunha’s £43m transfer from Atletico Madrid remains a club record.
Yet there is now a more conservative transfer plan, Jorgen Strand Larsen’s £23m move from Celta Vigo after last season’s successful loan spell, and the £26m committed for versatile midfielder Ladislav Krecji the highest numbers in the summer.
Wages have also dropped, Nelson Semedo, Raul Jimenez and Joao Moutinho were all on over £100,000-a-week, while the club was burned with Pablo Sarabia arriving under Julen Lopetegui in 2023 as one of their highest earners but unable to command a regular place before he left in June.
Wolves have previously overpaid and Fosun want a sustainable model. There may be a direct correlation between wage budget and league position, but the hard work is then finding better players for better prices.
They will spend again in January, although not drastically, and the evolution of the squad is seen as a new cycle after a lavish outlay.
Part of that new phase came in June when Matt Hobbs left as sporting director and was replaced by Domenico Teti, someone who worked with Pereira at Al-Shabab in Saudi Arabia.
It disrupted the summer a little, but Wolves feel they have their executive level right.