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Getty ImagesWolves got their transfer business “wrong” in the summer, says technical director Matt Jackson – while under-fire executive chairman Jeff Shi insists he can empathise with protesting fans.
Rob Edwards’ side are bottom of the Premier League with just two points and have not won in the top flight since April, while their current eight-game losing run has equalled a club record set in 1981-82.
It comes after a summer in which Matheus Cunha and Rayan Ait-Nouri were sold to Manchester United and Manchester City for a combined £92.5m, and captain Nelson Semedo left on a free transfer.
During that time, Wolves signed six players – Fer Lopez, Jhon Arias, Tolu Arokodare, David Moller Wolfe, Jackson Tchatchoua and Ladislav Krejci – without Premier League experience.
“The players who were brought in were brought in for the right reasons, but when you have a return of two points at this stage you have to say it’s wrong because whatever starting XI we have put out has not been good enough,” said Jackson, who also said Wolves will not give up on Premier League survival.
“We have a great belief in those players developing. The ability and will to improve has been excellent – but you want immediate returns.
“For the way we can go into the market for our players, it’s tough. We don’t have endless resources so we are trying to find players in markets where others aren’t necessarily looking.”
Jorgen Strand Larsen made his loan permanent for £23m after scoring 14 times last season, but the Norway striker has netted just once in the league this term.
Executive chairman Jeff Shi added: “Maybe we sold too many players in one window. You can see the squad and compare it to last season, maybe we changed 40 or 50% of the key players.
“It’s a task to rebuild a team but the Premier League is very tough. If you can’t control the tempo and need a longer time to rebuild the team the games will punish you.”
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Wolves’ winless start is just two matches short of the Premier League record of 17 games set by Sheffield United in 2020-21.
It has led to unrest and several supporters’ groups organised a boycott of the opening 15 minutes of Monday’s 4-1 defeat by Manchester United at Molineux to protest against Fosun’s running of the club.
Fosun has owned Wolves since 2016, overseeing their return to the Premier League in 2018 and run to the Europa League quarter-finals in 2020, but has been accused of supervising a managed decline.
Raul Jimenez, Diogo Jota, Joao Moutinho, Adama Traore and Pedro Neto left after helping Wolves to early success, with fans feeling they were not replaced effectively.
Shi has been the target of supporters’ anger for months with long-term frustrations now boiling over.
“It’s a very natural feeling from the fans,” he told BBC Radio WM. “Five or six years ago we were at some heights, the semi-final of the FA Cup and quarter-final in Europe.
“When you have reached those heights fans don’t want to let it go. I feel it myself. When you lose something like that it’s a tough blow – for this I have empathy.
“I’m not only a fan, I’m the CEO and chairman in the club. I have to think about how to judge the last decade in a more factual way and think about the next 10 years.”
Former Everton and Norwich defender Jackson also wants to have dialogue with fans.
“Our fans are allowed to express their views on Jeff directly to Jeff because he doesn’t duck away from the challenge in the stadium,” he said. “The expletives directed at the directors’ box are going directly to him because he is there and present.
“Come and talk to us, express those views. Hold us to account. Protest – we understand, we get it. Try to give your energy to the team but we will listen, we will learn and try to be better.”
Wolves are 13 points from 17th-placed Nottingham Forest and travel to leaders Arsenal on Saturday but Shi believes, off the pitch, they are in the best shape of his tenure.
“It may sound strange but I think it’s the best time in my 10 years, where we have galvanised a group of people, elite people,” he said. “We feel we share the same views and principles. The chemistry and communication at the moment is maybe the best I have seen.
“Back to the pitch, maybe it’s one of the worst moments in the last 10 years, but still better than where we were in the Championship.”
Shi also defended owners Fosun which has been accused of being disinterested by Wolves supporters. The Chinese investment group is looking for minority investment and is not actively looking to sell the club.
“They care a lot,” Shi said. “The owner [Guo Guangchang] watches every game, even at 3am in China.”
Edwards replaced Vitor Pereira in November – Wolves’ fifth permanent manager in four years – but has lost his opening four games since joining from Middlesbrough.
As a player he made 111 appearances for Wolves, also coaching the under-23s and first team, and Shi is planning a future with him.
“No-one can guarantee 100%, but I can say 95% [for] at least two or three years,” said Shi.
“It’s a long-term project with Rob.”
Jackson added: “The only reason I couldn’t see him being in charge of us is that he has come to us and said ‘I have no appetite for this any more’ – and this is not the man I’m seeing.”
Listen to the full interview on BBC Sounds here.
