Wolverhampton Wanderers are staring into the Premier League abyss, with their disastrous start to the season signalling what appears to be a terminal decline under Chinese ownership group Fosun.
The club has managed to secure just two points from their opening 12 matches, leaving them rooted to the bottom of the table and facing almost certain relegation back to the Championship.
From European Dreams to Relegation Reality
This dramatic fall from grace represents a stunning reversal of fortunes for a club that, under Fosun's early stewardship, had established itself as a Premier League fixture and even returned to European competition for the first time in a generation.
Since the Chinese conglomerate purchased the club from Steve Morgan in 2016, Wolves have enjoyed eight consecutive seasons in the top flight. However, the warning signs have been building for some time, with the club finishing in the bottom half in four of the last five campaigns.
The current season threatens to be historically bad, with Derby County's infamous Premier League record low of 11 points now appearing genuinely under threat.
A Club Stripped of Its Assets
The core of Wolves' problems lies in a transfer strategy that has seen the club consistently sell its best players without adequate replacement. The list of departures reads like a who's who of recent Wolves success stories.
Ruben Neves, Diogo Jota, Joao Moutinho, Raul Jimenez, Max Kilman, Pedro Neto, and Matheus Nunes are among the numerous key players who have left Molineux in recent years. Their replacements have largely failed to maintain the quality required for Premier League survival.
This approach has transformed Wolves from ambitious upstarts into a club seemingly content with mere survival - a goal that now appears beyond reach.
Managerial Merry-Go-Round Reflects Deepening Crisis
The dugout has witnessed similar instability, with a succession of managers struggling against the tide of underinvestment and player sales.
Nuno Espirito Santo, the most successful appointment of the Fosun era, was the first to identify the need for reinforcements before being moved on. Bruno Lage started promisingly before seeing his progress halted by lack of backing.
Perhaps most damningly, Julen Lopetegui walked out on the eve of last season because he believed the squad wasn't up to standard. Current manager Rob Edwards now faces the impossible task of extracting results from a squad clearly outmatched by their Premier League counterparts.
Executive chairman Jeff Shi has borne the brunt of fan criticism, particularly after his 2024 open letter to supporters in which he stated: "If you only pursue trophies or consistent European football, Wolves might not be an ideal choice."
Fans now worry that even pursuing wins might be beyond their club's current ambitions.
Infrastructure Decay and Fan Discontent
The problems extend far beyond the pitch. Molineux Stadium has grown increasingly dilapidated, with even basic maintenance appearing neglected. The Steve Bull Stand, barely fit for purpose in 2025, has seen redevelopment talks centre around hospitality areas rather than meaningful improvement.
This stands in stark contrast to ambitious plans unveiled by Midlands neighbours Birmingham City, highlighting the growing gap in ambition between the two clubs.
Season ticket prices have been hiked despite the declining matchday experience, leading to widespread fan discontent. Several supporter groups issued a joint statement earlier this season expressing their concerns.
"Many supporters feel that Wolves has lost its ambition, identity, and clear sense of purpose both on and off the pitch," the statement read. "You have already alienated a significant number of loyal supporters who have been priced out, and appear to show little care or respect for the fanbase."
The statement continued: "Under Fosun's early stewardship, the club made great strides... Sadly, we are now witnessing decisions that continue to undermine that vital relationship and diminish the standards that once defined the club."
The Final Whistle on Fosun's Era?
With Premier League status effectively already lost, concerns are growing that the situation could deteriorate further once the financial benefits of top-flight football disappear.
Fosun's tenure, which began with such promise, now appears to be reaching its natural conclusion. The ownership group has left no lasting footprint on the football club beyond the Premier League status they inherited and maintained until this season.
As one despondent fan pleaded during the recent defeat to Crystal Palace: "You've sold the team, now sell the club." The message from the Molineux faithful is clear - Fosun must pass stewardship of this historic institution to an ownership group with the ambition to reverse its alarming decline before it's too late.
