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The future of Championship side Wolves is confused after Graham Souness claimed that his £20m bid to buy the club had been rejected. The club denied that they had had any negotiations with the former Newcastle manager, although he had been invited as a guest to a match after he had met the club's chief executive on a flight back from the States. Wolves owner Sir Jack Hayward recently halved his £40m asking price for the Black Country club.
Lifelong Wolves fan Hayward took over the club in 1990 and has invested more than £90m. He agreed to stand down as chairman during the Club's one Premiership season in December 2003. It is thought that he would prefer a local purchaser if one could be found. Milan Mandaric, an old friend of Hayward, had informal discussions with Wolves before proceeding with his bid for Leicester which is about to go through. Other consortiums are interested but it is believed that the club are not convinced by Souness's unknown backers and did not like the fact that he went public with his interest.
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