Johnny Phillips: Wolves’ dealings are a real statement of intent

This was always going to be the busiest window for some time but it unfolded in a different way than imagined, leaving some within the club’s hierarchy surprised at the apparent u-turn when early summer pronouncements were on the theme of sustainability and sale-generated transfer funds.

As a club, Wolves is unique in the way it conducts transfer business. Alongside the recruitment department, which essentially works like any other in the Premier League, there is a parallel unofficial operation run by Jorge Mendes.

Two deals – one at the very beginning and the other just hours before the deadline passed - illustrate the hard work of the formal department. Technical director Scott Sellars and the recruitment team headed up by Matt Hobbs had been working on a central defensive solution for Bruno Lage’s planned switch to a back four. Nathan Collins had been identified long before last season ended and as soon as the Lancashire club was relegated Wolves were in pole position to snap up a highly-regarded player. Wolves had already developed a trusted relationship with his representatives and quickly tied Collins down to a five-year contract, with the option of a sixth.

Meanwhile, Hobbs travelled to France on a number of occasions last season to watch Metz in action after the scouting network identified Boubacar Traore as someone who fits Wolves’ framework of signing young players with the potential to substantially increase in value. There were initial talks about a move for Traore back in January but it never happened. The loan deal with an option to buy negates any immediate risk and gives the club that security of knowing the player is theirs if he makes the expected progress.

Yet not for a minute should anyone think Mendes’ influence at Molineux is on the wane. The super-agent attended the Fulham match last month alongside Fosun chairman Guo Guangchang. Seemingly way out of the running, Wolves then secured the signature of Matheus Nunes from Sporting Lisbon, “one of the best players in the world” according to Pep Guardiola earlier this year. The 23-year-old was holding out for an offer from one of the big Champions’ League clubs, either on the continent or in the Premier League. Wolves were a long way down his register and right up until signing it took some considerable persuading to get him through the door, with Mendes at the centre of the operation for all three parties. It represented a spectacular way to break Wolves’ transfer record, particularly given the substantial fee coughed up for Goncalo Guedes only days earlier.

Where has the money come from, some might ask? Supporters, by now, will have realised what a waste of time it is second-guessing any spending plans. In this instance, although the outlay this summer has topped £100million, the sums coming back in from player sales have been impressive, highlighted by the astonishing transfer fee Morgan Gibbs-White commanded.

Chairman Jeff Shi and Sellars spoke of running a tight ship during May’s Ask Wolves series, but there is flexibility to change course. Manageable bank borrowing arrangements have been in place for some time and are updated regularly under Fosun’s ownership. Further investment is actively being sought, too.

Global expansion of Wolves has always been an off-field priority for Fosun. Beyond the multi-dimensional brand identity projects, such as the deep dive into esports, there have been several key developments aimed at securing significant investment. In February last year Wolves awarded Middle East sponsorship representation to The MediaVantage, aimed at securing sponsorship from businesses in the region. In October it was announced that Chicago-based PEAK6 Investments would invest fresh funds into Fosun Sports Group, the subsidiary of Fosun built around Wolves. There have been ongoing conversations about further investment more recently, potentially from the Middle East, with the long-term goal of floating Fosun Sports Group.

Wolves are still a very small, if treasured, part of Fosun’s portfolio and there will be decisions made in China that affect the direction the club takes from time to time. It is a constantly changing, sometimes complex, global landscape. Certainly a different world from the days of Mark McGhee relying on Sir Jack Hayward’s handouts to buy another Leicester City player.

None of the financials will be at the forefront of supporters’ minds when kick-off approaches today. What Wolves need to show over the coming months is a clear identity with the ability to break opposition defences down. The meek performance at Bournemouth did little to appease the doubters and Lage spoke in the aftermath, asking for “patience”.

He deserves that because new players need time to bed in and there has been a bigger picture at play during the summer with the transition of playing system. The late arrivals meant Lage has not had a pre-season to work with most of the new recruits.

Even though nothing should be determined by today’s game alone, the head coach and his management know that the team cannot meander along in the lower reaches of the Premier League as a work in progress for many months more. This is now a very capable squad, much improved from 2021/22.

Aside from the arrivals of Nunes, Guedes, Traore, Collins and Sasa Kalajdzic there is real joy around the place that Ruben Neves remains, both from inside the club and in the stands. The 25 year old can become an influential captain this season alongside everything he does with the ball at his feet.

While departures for Conor Coady and Willy Boly leave the squad looking a bit understaffed in defence, none of the other exits weaken the group. Peripheral players have been loaned out and placed carefully in the hope they continue to develop, with Fabio Silva already amongst the goals at Anderlecht.

The one late disappointment inside Compton was the collapse of a deal to bring Craig Dawson from West Ham United as defensive cover. A deal had been agreed in principle only for David Moyes to veto the move once he discovered that his main target, Jan Bednarek, had opted to sign for Aston Villa.

Lage is in possession of a versatile squad, with a raft of midfield options. Notwithstanding any injuries, the defence looks very solid. Only in attack is there an element of uncertainty about how equipped the side is for a decent season. Raul Jimenez was never going to be the same player after his traumatic head injury and is unlikely to hit the heights he achieved previously. Kalajdzic “fits the profile we have been looking for” according to Sellars and supporters will hope he provides genuine competition for Jimenez.

Wolves’ hierarchy and recruitment department are entitled to believe they have done a great job this summer. There is rarely a perfect transfer window, but not since Jimenez, Joao Moutinho, Rui Patricio and Adama Traore arrived in the summer of 2018 has there been such a statement of intent.