Football

Morgan clinches Wolves buyout

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Cheshire businessman Steve Morgan has completed his takeover of Wolves, bringing to an end the 17-year reign of Sir Jack Hayward.

Morgan has completed protracted negotiations for the nominal £10 purchase of the Molineux club and a guaranteed £30million of investment in a deal that will mean Hayward will walk away without a penny of profit.

Morgan said: "It is my great privilege and pleasure to succeed Sir Jack as the owner of this famous old club and I sincerely thank him for his trust in me."

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Topics:
Football
Championship
Wolverhampton Wanderers
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