Steve Madeley drops hint on how much Wolves will have to spend this summer

Wolves are preparing for the summer transfer window with the end of the 2023/24 in sight, with Gary O’Neil’s ability to spend broken down by journalist Steve Madeley.

With 10 games of the 2023/24 Premier League season remaining, Gary O’Neil, Matt Hobbs and Fosun will soon turn their heads to the summer transfer window.

It’s hoped that Wolves will be able to strengthen more than they did last summer, as Julen Lopetegui was left frustrated due to the club’s inability to spend.

The Spaniard ended up leaving his position just days before the start of the season as he voiced his concerns about the squad’s depth.

Key players left Molineux without being replaced, shortening the numbers in the squad and significantly denting the quality on show.

Steve Madeley breaks down Wolves’ financial position ahead of the summer

In a Q&A for The Athletic, journalist Steve Madeley was quizzed about Wolves’ financial situation going into the transfer window.

As O’Neil continues to weather the storm of the Old Gold’s shrinking squad, it’s hoped that the manager will be able to welcome some new faces to the Midlands in the transfer window, with a repeat of last year not an option.

In short, Madeley was optimistic about Wolves’ budget this summer:

“Everything we hear suggests there should be some money available, yes. The club’s position in terms of profit and sustainability rules (PSR) should be a fair bit easier this summer than in 2023, so there won’t be the threat of points deductions hanging over the club.”

“However, sporting director Matt Hobbs has been clear that he does not expect major funds to be injected into the club by Fosun, the organisation which owns Wolves, and that ties in with the latter’s long-standing ambition to make the club self-sufficient financially. Hobbs has gone on record as saying he wants the football side of things — transfer fees and wages — to break even.”

Gary O’Neil won’t want to jeopardise Wolves’ squad quality 

While it’s imperative that O’Neil bolsters the squad’s depth with numbers running low, the manager will hope to not lose his key players as the club did last summer.

After losing the likes of Ruben Neves and Matheus Nunes last year, Wolves will hope to be able to not only sign new players but retain their biggest stars too.

Madeley touched upon the scenario that could see the club offload some star talent again in order for O’Neil to orchestrate a rebuild.

“If Wolves want to do a major summer of rebuilding to give O’Neil what he wants, they will probably have to sell one or two players for big money. I would expect interest in Pedro Neto, Joao Gomes, Matheus Cunha and Rayan Ait-Nouri.”

“Ideally, Wolves don’t want to sell any more than two big players in a single window, but at least they will have options when it comes to raising money to reinvest.”

As touched upon by Madeley, the impressive performances of some of O’Neil’s stars have seen them attract interest from elsewhere, something that could be both fundamental to finances yet detrimental to the squad.

The positive is that Wolves will gradually move away from the lows of last season’s financial restrictions, giving the manager a chance to bolster his squad ahead of the 2024/25 calendar.