Benefactors have a variety of motives for investing in clubs, often personal prestige. Sir Jack Hayward, who died earlier this week, was a true benefactor for Wolverhampton Wanderers. His motivation was love of the club. He grew up a few streets away from Molineux and used to squeeze under the turnstiles to get into matches free as a child.
Benefactors have a variety of motives for investing in clubs, often personal prestige. Sir Jack Hayward, who died earlier this week, was a true benefactor for Wolverhampton Wanderers. His motivation was love of the club. He grew up a few streets away from Molineux and used to squeeze under the turnstiles to get into matches free as a child.
Without his intervention the club might well have collapsed. As it was, he transformed Molineux from a rusting tribute to past glories into a modern stadium. He bought the club for £2.1m in 1990 and invested almost £80m.
In 2007 he sold the club to Steve Morgan for £10, writing off Wolves’ £40m debt. However, it estranged him from his family who argued that he could have sold the club for £20m.