Vital Football

Latest Wolverhampton Wanderers News

Wolves would have gone bust

Wolves would have gone bust

If it wasn't for the Premier League parachute payments, Wolverhampton Wanderers would have gone bust following relegation from the Premier League and Championship.

The comments come from Wolves chief executive Jez Moxey after we won promotion back to the Championship at the first attempt.

Back-to-back relegations from the Premier League and Championship left the club in turmoil, both on the pitch and off it.

However the safety net of knowing that the club would receive £48million over the next four years enabled the club to not only keep on trading but push for promotion from England's third tier.

"If we hadn`t had the parachute payments then we would probably have gone bust.' Moxey told the Express.

Currently Wolves have received two thirds of that £48 million, with another £8million to follow next season and the season following that.

This gives Wolves a safety net with new financial regulations in place in the Championship, with Financial Fair Play rules governing England's second tier.

Teams are allowed to lose £3million a year without punishment, whilst losses of under £8million are also allowed if the clubs owner pays off £5million of the debt.

Anything over £8million breaks the rules and teams will be punished with fines if they earn promotion to the Premier League, or slapped with transfer embargoes if they remain in the Football League.

So having £8million handed to us by the Premier League is of huge benefit.

Moxey continued: "There is almost civil war in the Championship over those payments because other teams say it gives you a massive advantage."

However Moxey concludes by saying that the payments only really go towards paying off existing large contracts.

He concluded: 'They have helped us pay for those contracts.'

Those contracts he refers too are the likes of Stephen Ward, Jamie O`Hara and Kevin Doyle, who have remained on the books at Molinuex despite our fall down the leagues.

Tell us what you think

As well as joining in on the forum and article comments below, you can also write an article to appear on our site!

This website is 100% by the fans and we are always looking for people to get involved. If this interests you please contact Vital Wolves.



Click here to join in the debate on the club forum.

Writer:Akela
Date:Tuesday April 15 2014
Time: 10:00AM

Login to post a comment

Recent Wolves Articles

Wolves v Huddersfield - Team Sheets

Wolves are at Molineux with Huddersfield the visitors for the latest Championship game.

Wolves v Huddersfield - Follow Live On Twitter

Wolves are at Molineux with Huddersfield the visitors today, this will be a 7:45pm kick-off.

Wolves Open Goal Of The Season Vote

Wolverhampton Wanderers have today opened the voting on the 2016/17 Goal of the Season award.

Mason Relishing Wolves Return

Having returned to head coach Paul Lambert's squad but being an unused substitute for Wolverhampton Wanderers in our scoreless draw with Blackburn Rovers...

Archived Vital Wolves Articles

Vital Wolves articles from

Site Journalists

Write for Vital Wolves
Write For Vital Wolves
Apply Here

Current Poll (see more polls)

Huddersfield MotM
Suggested By:
Lonergan 0%
Iorfa 0%
Batth 0%
Stearman 0%
Silvio 0%
Price 0%
Edwards 0%
Marshall 0%
Gibbs-White 0%
Weimann 0%
Bodvarsson0%
ScoopDragon Publishing Entire League Network of Sites

League Table

# Team P W D L Pts. GD
P Brighton 44 28 8 8 92 35
P Newcastle 44 27 7 10 88 40
3 Reading 44 24 7 13 79 1
4 Sheff Wed 44 23 9 12 78 15
5 Huddersfield 43 24 6 13 78 2
6 Fulham 44 21 13 10 76 27
7 Leeds Utd 44 22 7 15 73 14
8 Norwich 44 19 9 16 66 12
9 Brentford 44 18 9 17 63 12
10 Derby County 44 17 12 15 63 2
11 Preston 44 16 13 15 61 2
12 Aston Villa 44 16 13 15 61 0
13 Cardiff 44 16 11 17 59 -2
14 Barnsley 44 15 12 17 57 0
15 Wolves 43 15 10 18 55 -2
16 Ipswich 44 13 16 15 55 -6
17 Bristol City 44 14 9 21 51 -6
18 Burton 44 13 12 19 51 -12
19 Q.P.R. 44 14 8 22 50 -12
20 Forest 44 13 9 22 48 -11
21 Birmingham 44 11 14 19 47 -22
22 Blackburn 44 10 15 19 45 -15
23 Wigan 44 10 11 23 41 -16
R Rotherham 44 5 6 33 21 -58
The Vital Football Members League
Latest F1 News
Latest Vital Boxing News
Vital Football Comment

Recent Wolves Results (view all)

Wolves Fixtures (view all)

Apr 25 2017 7:45PM : Huddersfield Town (H)
Sky Bet Championship
Apr 29 2017 3:00PM : Derby County (a)
Sky Bet Championship
May 7 2017 12:00PM : Preston North End (H)
Sky Bet Championship

Vital Members League Table

RankNamePoints
1.johnwolf3
2.Andie Spooner1
Write for Vital Football