UK time is: 07:37:12
Vital Login
Social Login

Choose your club

Other Sites

Network Navigation

Vital Partners

'If It's Football, It's Vital'

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.




Use your social login to comment on front page articles. Login using you Facebook, Twitter, Google or LinkedIn accounts and have your say!



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

The Journalist

Writer: Akela Mail feedback, articles or suggestions

Date:Tuesday April 15 2014

Time: 10:00AM

 

Have Your Say

Log in...
with your social network     OR     with your Vital account

Recent Wolves Articles

Jackett pleased with goals (Wednesday October 22 2014)

Stats: Wolves v Middlesbrough (Wednesday October 22 2014)

Wolves get back on track with a win (Tuesday October 21 2014)

11 goals conceded in 4 games (Monday October 20 2014)

Sign up to Vital Wolves today (Monday October 20 2014)

Wolves let two points slip away (Sunday October 19 2014)

Leaky Defence Costs Wolves More Points (Saturday October 18 2014)

Archived Wolves Articles

List All Vital Wolves Articles
Have your say
Click here to suggest an article
Click here to suggest a poll

Vital Members League (view all)

League Results (view all)

Latest Results
Wolves 2 - 0 Middlesbrough
Wolves 1 - 0 Bolton
Wolves 3 - 1 Blackburn
Reading 3 - 3 Wolves
Millwall 3 - 3 Wolves
Fulham 0 - 1 Wolves

League Table (view table)

Team P W D L GD Pts
1. Derby County 13 7 5 1 13 26
2. Watford 13 7 4 2 11 25
3. Middlesbrough 13 7 2 4 7 23
4. Wolves 13 6 5 2 5 23
5. Norwich 13 6 4 3 10 22
6. Forest 13 5 7 1 9 22
7. Charlton 13 5 7 1 4 22

Breaking League News

LUFC On This Day - October 23rd
Leeds Utd : 23/10/2014 07:17:00
Any Previous? - Derby v Latics
Wigan : 23/10/2014 07:00:00
Meet The Ref - Derby v Latics - Bobby Madley
Wigan : 23/10/2014 06:00:00
PWU Latics Podcast - All M*A*S*H*ed Up
Wigan : 23/10/2014 06:00:00
The Reds unbolt the Trotters.
Charlton : 22/10/2014 23:06:00

Current Site Poll (view all polls)

Can Wolves pull off back-to-back promotions?
Suggested By:  
Yes 51%
No 49%