Wolves chief executive Jez Moxey has hailed the imminent arrival of Steve Morgan as the club´s new owner.

But Moxey insists the £30m windfall that will come with the Liverpudlian businessman will not see the club adopt an "open chequebook approach".

He told Sky Sports: "We´ll continue with the strategy we´ve developed with (manager) Mick McCarthy in selecting and recruiting young, hungry players."

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