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Wolves owe £104m to banks

Wolves had day to day losses of £58m in 2021/22, reports Kieran Maguire. Insurance claim and player sale profits reduced this to ‘just’ £40m, before interest costs added a further £5m to expenses.

Wolves spent £29m more cash than they generated in day to day trading. Net cash player spend was £11m. As a result Club had to borrow a further £44m from banks.

Revenue was not very comparable to previous year which was distorted by lockdown. Matchday up as crowds returned, broadcast down as fewer matches played compared to 20/21.

Total wage bill down £19m partly due to fewer matches played. Staff numbers up as lockdown ended. Highest paid director income up 50%. Interest on loans over £100k a week.   Wolves owe £104m to banks and pay interest of 7% on the sum. Also borrowed from Fosun in the year interest free.

Wolves bought players for £31m and had sales of £20m.  Wolves had a net transfer spend of £121m in the summer 22/Jan 23 windows.

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