Wolves become the second English Championship side with Chinese owners as Fosun prepares to announce purchase
West midlands club is set to announce the HK$462.2 million takeover later on Thursday
Wolverhampton Wanderers became the second Chinese-owned English Championship football club on Thursday when they were purchased by Shanghai-based conglomerate Fosun International Limited for a reported £45 million (HK$462.2m).
Rumours had been circulating about the prospective Fosun purchase for the last two weeks, however, the club is expected to formally announce the deal later on Thursday.
Wolves were promoted to the Premier League in 2009 and spent three seasons in the top flight before they were relegated in 2012.
The following season they were relegated to the third tier, but bounced back the following season. They finished 14th in the Championship last season.