Wolves won’t do a Portsmouth, says Morgan
Wolverhampton Wanderers chairman Steve Morgan says he has no intention of letting the club get into the sort of financial difficulties Portsmouth has faced. Speaking to Insider, the Wolves boss - who is also chairman of housebuilder Redrow - said Wolves’ next set of accounts, due to be filed soon, would show the club is "very profitable".
He said: "We intend to be profitable going forward. The money will be invested back in the club. One thing I don't want to do is waste it making the mistakes that Portsmouth did."
He said Wolves had made a couple of years of trading losses as the club fought for promotion from the Championship division but that was a "calculated strategy".
He added: "It is very important that football clubs are run as businesses. There is common sense coming back to the industry."
