Wed Sep 30, 2015 7:30 am
Wolves for sale: Supporters stunned as Steve Morgan's eight-year rollercoaster ride ends
30/09/2015
Steve Morgan’s decision to suddenly cut his ties with Wolves after an eight-year rollercoaster ride has left supporters stunned.
The announcement comes just weeks after the multi-millionaire businessman claimed his heart was in Wolverhampton and only adds to the uncertainty around the club following an underwhelming start to the season which has seen the murmurs of discontent on the terraces grow louder.
It was meant to be a long-term project. Morgan arrived at Molineux in 2007 after purchasing the club for £10 from Sir Jack Hayward on the condition that he would pump in £30 million.
The lifelong Liverpool supporter was bullish and claimed that he had found a new love.
Morgan bought Wolves from Sir Jack Hayward for £10, and he voed to spend £30m on the club
He pledged that he would do everything he could to make Wolverhampton Wanderers one of the game’s major powers in a glitzy stadium that could eventually house 50,000 supporters.
And what of the stadium development? The new Stan Cullis stand was hurriedly completed during the club’s brief Premier League sojourn, but was then put indefinitely on hold as they plunged down the divisions.
The Wolves hierarchy has always maintained the redevelopment would continue in the future, probably if and when the club is competing in the Premier League again, but Morgan’s decision to stand down throws all that into doubt.
Success-thirsty fans have grown restless in recent years and this summer questioned Morgan’s commitment to the club after only around £3.5m was invested in new players – a fifth of the amount spent by some of Wolves’ promotion rivals in the Championship.
And the shock sale of last season’s player of the year Richard Stearman to Fulham for £2m angered supporters even more after already having seen top talent Bakary Sako depart on a free transfer earlier in the summer.