Wolves are in a strong position to win the Championship, but some of their rivals have taken exception and have claimed that Wolves are breaking EFL rules. A written complaint has been made by several clubs, an unusual step.
Essentially there are two issues. One concerns Portuguese super agent Jorge Mendes. The Chinese owner of Wolves, Fosun, has a stake in Mendes's company Gestifute. Other Championship club chairmen have questioned how Wolves have been able to afford and sign players, many of whom are linked to Gestifute, from some of the biggest clubs in Europe. The Wolves head coach, Nuno Espirito Santo, is a former goalkeeper who was Mendes's first client, and remains close to him.
The written complaint was discussed at a meeting of the EFL board on Thursday. 'It was agreed that the EFL executive will meet with the management of the club to reiterate our requirements and those of the FA and will report back to the board.' Wolves would have to demonstrate that any relationship was above board to be admitted to the Premier League. Leeds United owner, Andrea Radrizzani, said that he had 'concerns regarding agencies having direct influence within clubs, which I believe could breach EFL rules.'
The second issue relates to financial fair play. The club's annual results for last season show that they spent considerably more on players' wages than they earned in income. Clubs are permitted to run a deficit of £39m over three seasons. The accounts for the parent company WW (1990) Ltd show a loss of £23.7m. The club's accounts show a slightly lower loss of £20.8m. The WW (1990) accounts state: 'Because of investment in the playing squad ... there is a risk in respect of complying with the profit and sustainability regulations where failure to meet the required thresholds can result in financial and operational sanctions to the group.' These could include point deductions.
The Times has a headline this morning, 'Rivals would not cry foul if Wolves were struggling.' Chief football correspondent Oliver Kay asks, 'So why has it taken so long for Championship clubs, including Aston Villa, Derby County and Leeds United, to get their heads together and suggest that the whole arrangement looks, ooh, a bit iffy ... None of those other clubs were quite so concerned last season, when the Gestifute connection seemed to be doing Wolves more harm than good.'
At Elland Road on Wednesday, Wolves supporters chanted 'There's only one Jorge Mendes.' Some have ordered Mendes masks to wear for tonight's needle derby at Villa Park. Kay comments, 'One hopes beyond the terrace banter, those fans recognise the difference between a philanthropic owner, such as the late Sir Jack Hayward, and an agent. Mendes is no Hayward.
Jack Hayward was one of the greatest benefactors of a club we have ever had in football, staying loyal to his roots. Now, Wolves fans want to be back in the Premier League.
More detail about the latest Wolves accounts can be found in this report from the local evening newspaper: Huge loss in latest accounts
You can read the accounts online free of charge here: Wolves filings
Villa spent £70 million, what is stopping these clubs from contacting the agents and doing the same, has for affording it they are billionaires ffs and reportedly the third richest in the country.
ReplyDeleteIt's all a put up job by teams other than those mentioned and some from the premiership.
Fosun have made it clear they only whant the best and once in the premiership they will supply the funds to get the club into Europe.
That has set alarm bells ringing at the top table and boy are they scared.
Fair comment from John. I think other clubs are ganging up on Wolves.
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