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SCMP Reporter

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).
The second-tier outfit follow in the footsteps of Midlands rivals Aston Villa, who were purchased by businessman Tony Xia Jiantong for HK$683.5m in May.
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.
New Aston Villa owner Tony Xia completes takeover after passing English Football League’s ‘fit and proper’ test
Wolves had been up for sale since September 2015 when the previous owner Steve Morgan announced he was looking to sell the Championship strugglers after eight years in charge.
Wolves were promoted to the Premier League in 2009 and spent three seasons in the top flight before they were relegated in 2012.
Is Xia Jiantong the man to save Aston Villa, or will fans be wishing Randy Lerner never left?
The following season they were relegated to the third tier, but bounced back the following season. They finished 14th in the Championship last season.


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

Photo: Twitter

Championship club Wolverhampton Wanderers have been purchased by Chinese company Fosun International. Photos: Twitter

Meet Tony Xia Jiantong, the 40-year-old Chinese businessman who just bought soccer club Aston Villa for HK$683.5m 

Xia is widely regarded as a savvy asset trader

Xia Jiantong (R), the chairman of Recon Group, who has agreed to buy English soccer club Aston Villa, smiles as he speaks to unidentified person in his office in Beijing, China May 19, 2016. REUTERS/Damir Sagolj

Tony Xia Jiantong, chairman of Recon Group, who has agreed to buy English soccer club Aston Villa. Photo: Reuters

Chinese businessman Tony Xia agrees to buy Aston Villa for reported £60 million

Aston Villa fans hold up a banner calling for the departure of then chairman Randy Lerner. Photo: AFP

Britain Soccer Football - Aston Villa v Newcastle United - Barclays Premier League - Villa Park - 7/5/16 Aston villa fan with a sign in protest of owner Randy Lerner outside the stadium before the match Action Images via Reuters / Jason Cairnduff Livepic EDITORIAL USE ONLY. No use with unauthorized audio, video, data, fixture lists, club/league logos or "live" services. Online in-match use limited to 45 images, no video emulation. No use in betting, games or single club/league/player publications. Please contact your account representative for further details.

** FILE ** Cleveland Browns owner Randy Lerner watches the team's football minicamp practice in Berea, Ohio in this June 13, 2005 photo. Lerner is set to take over Aston Villa after a rival group failed Thursday, Aug . 24, 2006, to match his bid to buy the Premier League soccer team. A group led by Michael Neville and Nicolas Padfield could not better the $118.8 million bid Lerner made Aug. 14 to buy Villa, one of the oldest teams in English soccer. Lerner would be the second American owner of a Premier League team, and the fourth foreign owner. Last year, Tampa Bay Buccaneers owner Malcolm Glazer took over at Manchester United, one of the most popular teams in the world. (AP Photo/Mark Duncan)

Sport

Football

West midlands club is set to announce the HK$462.2 million takeover later on Thursday


Wolves become the second English Championship side with Chinese owners as Fosun prepares to announce purchase

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}West midlands club is set to announce the HK$462.2 million takeover later on Thursday

West midlands club is set to announce the HK$462.2 million takeover later on Thursday