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Feb 28, 2013

Wolves chief prepared to quit club

Wolves chairman Steve Morgan has vowed to walk away from Molineux if angry fans want him to leave the struggling Championship club.

Multi-millionaire Morgan is coming under increasing pressure from disillusioned supporters as Dean Saunders' team fight to avoid a second relegation in 12 months.

And despite sanctioning £73 million on player purchases and investing a further £18 million in redevelopment programmes at Molineux during his five years since buying out Sir Jack Hayward, Morgan told a meeting of the Fans Parliament he is prepared to walk away.

Supporters are planning a demonstration against Morgan and chief executive Jez Moxey ahead of Friday night's game with Watford, as Saunders looks to end a run of eight games without a win since he took over from Stale Solbakken as manager.

Morgan condemned the action and told fans: "It (the job) is a real pleasure for me but if we get to the point where I am not wanted then I will leave. The last 18 months has been crap. But do I regret coming here? No. Is the job too much for me? No. I am at a loss at the moment but only in the same way as everyone else in the room.

"What's my exit plan? I don't have one. But if it gets to the point where I feel I am not wanted I will go. Simple as that. If you want me to go I will go. But if that day comes it won't be for the wont of trying or effort. I am fully committed to this football club and I want exactly the same as you want.

"I would ask what they would like to achieve (with the protest). Do they think we don't know what is going on? That we know how people feel? If they want to drive me out of the club I will go. I am not here for any other reason than to try and make the club successful.

"I am sorry to my wife, to my family, the fans - I am sorry about every damned thing. I am sorry we are in the position we are in. There is a cloud over my life at the moment. I don't worry about my other businesses - this football club drives me to have sleepless nights. Ask my wife how many times a week one of us goes into the spare room because I am not sleeping."

Morgan faced questions over his long-standing allegiance to Liverpool, a club he attempted to buy over a decade ago, and his commitment to Wolves, because of what fans perceive as a lack of investment in the playing staff.

He claims his spending on players since he had been at the club stood at £72,866,000 with a net spend of £35,958,000 - which puts Wolves in the top ten of spending clubs under his tenure.

Wolves' turnover this year is expected to reduce by 50% from around £60 million in the Premier League last year, and relegation would be a huge financial blow with a high percentage of the club's players on big salaries.

"I am pouring money in and we are losing £6.5 million this year and you don't want to see the budget for next year. We have players on big salaries and are going to lose an absolute fortune," he said.

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