Wolves supremo defends financial policy
Wolves could still be relegated on Sunday when they play Blackburn Rovers at Molineux (although it s not that likely), but chairman Steve Morgan has defended the club's prudent financial policy and had a pop at other clubs that take risks with their finances.
Wolves had a £9m profit on a £61m turnover last year. Even if they do go down, they will start re-developing Molineux on Monday. Morgan commented, 'We were one of the few Premiership clubs that were profitable last year. We don't have any borrowings, we have cash set aside in the bank and we have put the money aside to do the redevelopment.'
'We have tried to manage this as a proper business and I wish other clubs would do the same. I wonder how the hell they are going to confirm to the Uefa Financial Fair Play rules. This short-term mentality in football is ludicrous.'
Players' contracts at Wolves are weighted according to the division they are playing in, a practice that is becoming increasingly common. Morgan said, 'More of the people that control other Premier League clubs need to follow Wolves' example. Blackpool have done it this year by controlling their wages. They may well go down, and we may yet, but there needs to be more common sense in the game.'
Ian Holloway is convinced that the Premier League want Blackpool to be relegated against Manchester United on Sunday. 'The Premier League will be relieved if we lose and get relegated,' the outspoken manager said. 'Then I am not badgering them.' Holloway is still upset that Blackpool were fined £25,000 for fielding a weakened team against Aston Villa in November.
Given the nature of the deals that most of Blackpool's players signed last summer, seven have already been told they will be leaving and others have been informed that options to cut their wages will be exercised.