Manager Gary O’Neil asserts vindication for Wolves’ summer transfer policy as Everton and Nottingham Forest face charges for breaching Premier League financial regulations.
The two clubs are facing referral to an independent commission for potential violations of profit and sustainability rules (PSR) in their 2022-23 accounts.
In contrast, Wolves remained compliant by curbing their transfer expenditures.
“We are delighted the club managed to correct things,” said O’Neil.
“You have seen what has happened this week with a couple of charges. The club have worked really hard to make sure that doesn’t happen to us.
“I am keen to make sure we are in a good spot now but also think about what the club looks like in two or three years.”
Having deferred their spending plans to January to support former Spain manager Julen Lopetegui in a successful fight for survival last season, Wolves significantly scaled back their transfer strategy in the summer.
Club captain Ruben Neves topped the list of experienced players allowed to depart Molineux. Matheus Nunes secured a club-record sale by joining Manchester City, Nathan Collins moved to Brentford, Conor Coady transferred to Leicester, and Raul Jimenez went to Fulham.
After considerable deliberation, Lopetegui also departed on the eve of the opening game against Manchester United, expressing concerns about Wolves’ ability to maintain their top-flight status.
Amidst significant discontent among supporters, chairman Jeff Shi felt compelled to address fans with an open letter, affirming Fosun’s commitment to the club. However, he emphasized the reality of profit and sustainability rule restrictions, expressing a reluctance to take risks that might lead to breaches.
Contrary to fan concerns, Wolves currently hold the 11th position in the Premier League. A victory against Brighton on Monday would bring them within a point of securing a European qualification slot.
The thrilling 3-2 victory in the FA Cup third-round replay against Brentford, where Collins scored for the visitors, secured a much-anticipated fourth-round journey to local rivals West Brom. The match showcased a pivotal goal from the 18-year-old homegrown striker, Nathan Fraser.
During the Culture, Media, and Sport Select Committee hearing on Tuesday, Premier League chief executive Richard Masters emphasized the need to safeguard clubs adhering to the rules.
Consequently, while Everton and Forest face uncertainties about potential points deductions for breaching profit and sustainability thresholds, Wolves find themselves in a favorable position.
“Doing what we did in the summer was incredibly important and of course it could have gone wrong,” added O’Neil.
“We could have been sat on 12 points and everyone would have been moaning around the players we have lost. But that isn’t the case. Twenty-eight points is a really good return.
“We are delighted the club managed to correct things and are not involved in any of those uncertainties and charges and risk of losing points.”
It also means O’Neil may have to be creative to bring in the striker he feels Wolves need this month.
West Ham’s Danny Ings has been mentioned but his wages may prove prohibitive. Fraser could get an extended chance but, at 18, O’Neil feels it would be asking a lot to believe he can lead the attack on his own.
“We have been trying to bring in a number nine since the day I arrived,” he said. “We are trying to find something that fits where we are financially but also that helps, which is hard.
“It is important we don’t expect too much from Nathan. The Premier League is a tough place to play as a number nine when you are 18.
“I am sure we will get at least one done up there but always with the best interests of the long-term future of the club in our minds as well.”