Latest Johnny Phillips article

[Bill McCai]

Johnny Phillips: Fosun frustrations forced Wolves into major reset

The strangest summer under Fosun’s ownership since their first one in Wolverhampton back in 2016 has just passed. Now, as the Premier League takes its early international break there is a moment to take stock of a difficult few months and look at the challenges ahead.

www.expressandstar.com

 

[SingYourHeartsOut]

Pretty much confirms what we knew, there was a change in strategy between January and May (or they just lied to Hobbs and Lopetegui in January). Do note he's not quite in line with Percy on Lopetegui's severance though.

 

[Starsky]

Maybe we can reset in the Champ where our financial power belongs now.

 

[WeAreTheWolvesII]

Not too much to go on there.

Guo wanting us to 'stand on our own two feet' is perfectly fine. If Fosun said they weren't putting in any money for the foreseeable, nobody would really have an issue with that.

However, what happened was not us standing on our own two feet. It was selling £150m worth of players and buying £30m. It was ripping the squad apart in one summer, downgrading the manager considerably to save more money and taking massive risks in terms of whether we stay up.

So, it still doesn't really add up.

As I said, if it was stated we were going to have a £0 net spend for the next few years, it would be a shame but what can we do? Fosun have done loads for us, and we should still be competitive if Hobbs and our recruitment team are good.

Instead, we've made a £120m profit, meaning Hobbs and the recruitment team have to be excellent for us to have a chance.

We still desperately need to be sold if we want to stand still, never mind go forwards.

 

[The Wolf In The North]

So, it's basically what we've been saying for months - that whilst it IS technically FFP, it's only that because Fosun abruptly decided not to put in the yearly allowed investment, and all involved were sideswiped by it. We had to claw back a nigh-on £100m shortfall from what was expected.

And whilst Phillips is correct in that this is within Fosun's right, it's not the way to run a PL club. You can't have your cake and eat it - the brand, exposure and prestige has to be financed. The current situation is Mike Ashley's Newcastle, and what happened there was they circled the plughole for a couple of seasons with a zero outlay and then finally got relegated.

We have a cheapest-available option manager, and a squad that is serviceable but with very little value left in it if they decide on another summer of famine next year regardless of division.

Such a waste.

 

[SingYourHeartsOut]

So, it's basically what we've been saying for months - that whilst it IS technically FFP, it's only that because Fosun abruptly decided not to put in the yearly allowed investment, and all involved were sideswiped by it. We had to claw back a nigh-on £100m shortfall from what was expected.

And whilst Phillips is correct in that this is within Fosun's right, it's not the way to run a PL club. You can't have your cake and eat it - the brand, exposure and prestige has to be financed. The current situation is Mike Ashley's Newcastle, and what happened there was they circled the plughole for a couple of seasons with a zero outlay and then finally got relegated.

We have a cheapest-available option manager, and a squad that is serviceable but with very little value left in it if they decide on another summer of famine next year regardless of division.

Such a waste.

Like the £50m transfer profit (failing to mention Cunha and Boubacar), the manager's preparing the squad for the new season (failing to mention he'd already resigned) the need to work withing FFP (with maximum £5m loss as we're not investing).
Half truths seem to be the current speciality in club communication.

 

[Streathamwolf]

Not too much to go on there.

Guo wanting us to 'stand on our own two feet' is perfectly fine. If Fosun said they weren't putting in any money for the foreseeable, nobody would really have an issue with that.

However, what happened was not us standing on our own two feet. It was selling £150m worth of players and buying £30m. It was ripping the squad apart in one summer, downgrading the manager considerably to save more money and taking massive risks in terms of whether we stay up.

So, it still doesn't really add up.

As I said, if it was stated we were going to have a £0 net spend for the next few years, it would be a shame but what can we do? Fosun have done loads for us, and we should still be competitive if Hobbs and our recruitment team are good.

Instead, we've made a £120m profit, meaning Hobbs and the recruitment team have to be excellent for us to have a chance.

We still desperately need to be sold if we want to stand still, never mind go forwards.

They didn't downgrade the manager to save money, in fact it cost them. He chose to leave as they would not invest. Not sure the 120M is quite accurate but can't be bothered to check. That said, it was a big about turn and I agree with Philips' take.

 

[TF2Wolf]

Pretty much confirms what we knew, there was a change in strategy between January and May (or they just lied to Hobbs and Lopetegui in January)

So, it's basically what we've been saying for months - that whilst it IS technically FFP, it's only that because Fosun abruptly decided not to put in the yearly allowed investment, and all involved were sideswiped by it. We had to claw back a nigh-on £100m shortfall from what was expected.

This for me is one of the the most worrying things if Fosun abruptly changed strategy and subsequently didn’t keep the most important people (from a footballing side) on board and informed with the new direction, hence Hobbs going from project back on, to £8-£15 million signings range and then to loans and frees until Nunes was sold.
How are Hobbs and the recruitment team meant to plan future signings if the goalposts can be moved at any given point and seemingly with little or no notice.

Why not a gradual planned shift to transition to the new model. It makes the club look like a bunch of amateurs.

For me it’s becoming a case of of thanks for the memories but please find us a buyer that has a more stable, strategic & sustainable approach.

 

[Wolf316]

They had a pretty decent stab at getting relegated last season and are looking to go one better this season.

 

[Oldgold Wolfcub]

This for me is one of the the most worrying things if Fosun abruptly changed strategy and subsequently didn’t keep the most important people (from a footballing side) on board and informed with the new direction, hence Hobbs going from project back on, to £8-£15 million signings range and then to loans and frees until Nunes was sold.
How are Hobbs and the recruitment team meant to plan future signings if the goalposts can be moved at any given point and seemingly with little or no notice.

Why not a gradual planned shift to transition to the new model. It makes the club look like a bunch of amateurs.

For me it’s becoming a case of of thanks for the memories but please find us a buyer that has a more stable, strategic & sustainable approach.

I dont think Fosun have changed tactics as I dont think they ever had one other than hope they could get a manager who would continually make miracles happen. Their original plan was JLo and had not plan b when that fell apart. Rest is history with a lucky break during Nuno's time.
Fosun have never invested in this club they have spent and wasted money. If the first thing they had done was to bring in a proper CEO, a leader who understood what was needed to run a football club things could have been different.
This article shows that Fosun blame everyone else but themselves. Their reliance on Mendes was poor and they coulod not see a conflict of interest. Self financing does not rely on overpaying for players and the continual bring in players that did not want to be here and have cost us dearly.
Fosun are not the owner for us unless they look at things objectively. If they want us to be self financing kick Shi out and bring in a proper management structure. But the Chinese would probably see this as losing face.

 

[Wolf316]

Guo is apparently unhappy with the way things have been going with his investment yet keeps Teflon Jeff in his job? Something doesn’t add up.

 

[TF2Wolf]

Guo is apparently unhappy with the way things have been going with his investment yet keeps Teflon Jeff in his job? Something doesn’t add up.

He’s going to be a damn site more unhappy if and when his investment halves in value in the Championship

 

[Wolf316]

He’s going to be a damn site more unhappy if and when his investment halves in value in the Championship

This is what I really can’t get my head around and the only thing I can think is that it won’t be his investment by then.

 

[loppers86]

How are Hobbs and the recruitment team meant to plan future signings if the goalposts can be moved at any given point and seemingly with little or no notice

this is key for me.
can’t be done.
fosun need to do one.

 

[sillytuna]

I don't understand how they've paid off the previous management - huge payout from the sound if it. If they wanted out, let them quit. Unless wolves essentially breached an agreement - which is quite possible.

Shambles really.

 

[wolfslair]

I don't understand how they've paid off the previous management - huge payout from the sound if it. If they wanted out, let them quit. Unless wolves essentially breached an agreement - which is quite possible.

Shambles really.

I actually think there is more to the story than JL has spoken about in the press. I think there is an element of the settlement being hush money to shut JL up…….. he caused a great deal of repetitional damage with his interviews, so they had to shut him up so they can spin and control the narrative to be what they need it to be.

The club is in a ****ing shambles organisationally and has been for some time. It shows the fosun and Jeff defender were very very very wrong as fosun have been making miss-steps for years but not learning anything from them to allow improvement or professional growth as to them every mistake is someone else’s fault and not theirs.

They really need to sell up and **** off.

 

[goldeneyed]

Nothing much new there. The £10m plus to pay off Loptegui and co is crazy but typical of the whole nonsensical summer 'strategy'. All at a time when supposedly there was no money to invest in the team. Forcing Hobbs to wait until the Nunes sale and the end of the Window to do anything in the market has simply resulted in the weakening of the squad and plenty of missed targets. Bellegarde and Santi Bueno are grown up signings hopefully but do they make up for the sale of Collins and Nunes? And then of course we have the eternal question of no proper striker or focus for the attack. The one position the club should be prepared to spend big on if necessary. Their response - Che Adams - a run of the mill player who fortunately we did not in the end bring in.

Neves is a huge loss of course and Podence, whatever his detractors say, was one of the few players who could actually score last season. O'Neil has a huge challenge on his hands and apart from dealing with the presumed defeats to Liverpool and Man City coming up he has to make sure we beat Luton if he is to retain any credibility in the short term. Meanwhile, Fosun will presumably insist on further austerity in January unless we are marooned in a bottom two or three spot and continue to suffer too many defeats and a goal drought. Then, like last January, they might be panicked into opening the wallet a bit and looking round for another manager. All seems highly predictable right now.

 

[Perton Wolf]

FOSUN are done, as I and a few other posters have alluded to. No more investment will be forthcoming, and it's in the interests of all parties if they sell up and leave at the earliest opportunity.

The fact we paid Lop and his staff off to the tune of £10million plus sums up the shambolic state in which the club is being run.

 

[Perton Wolf]

So, it's basically what we've been saying for months - that whilst it IS technically FFP, it's only that because Fosun abruptly decided not to put in the yearly allowed investment, and all involved were sideswiped by it. We had to claw back a nigh-on £100m shortfall from what was expected.

And whilst Phillips is correct in that this is within Fosun's right, it's not the way to run a PL club. You can't have your cake and eat it - the brand, exposure and prestige has to be financed. The current situation is Mike Ashley's Newcastle, and what happened there was they circled the plughole for a couple of seasons with a zero outlay and then finally got relegated.

We have a cheapest-available option manager, and a squad that is serviceable but with very little value left in it if they decide on another summer of famine next year regardless of division.

Such a waste.

The FFP excuse was always a smokescreen fed to the club's unofficial mouthpieces in the press and others, who lapped it up without a second thought.

Glad to see that a mainstream journo such as Phillips has exposed it for what it is, an excuse not to invest and a pretty shoddy one at that. A poor PR exercise.

 

[Darvo]

I don’t think it’s fair to criticise Fosun for a lack of investment/funding … this they have done by the bucket load.

However, when it comes to running a football club, I honestly think they are clueless. EG - Surely one thing they should have learned last season is that one of the key things at a football club is the calibre of the head coach/manager. Alas, apparently not.

 

[SingYourHeartsOut]

Thing for me is that since Fosun Day 1 I have been asking what are we, a soft power, profile raising project, or an actual investment opportunity. This summer has made it pretty clear that it's the latter. Fosun invested well and grew their asset, despite the money they spent I'm sure they could have walked away with a reasonable profit. However covid and 3 years of bad decisions have left them looking to get some return and probably get out when they can. I don't think anyone can be anything but grateful for the first 3 years, or anything but disappointed in the last 3. They do need to go before they destroy their legacy.

 

[Andywolf74]

I don’t get the business strategy or lack of it here. Fosun have witnessed first hand how a number of underperforming signings and a not fit for purpose manager took us to the bottom of the division and it took a fair bit of money and a high profile to just about dig us out of a hole.
Our value as a club was surely higher with JL in charge and £47 million banked from the sale of Neves. JL may well have stayed if a buyer with fresh investment and vision came in.

 

[Darvo]

I don’t get the business strategy or lack of it here. Fosun have witnessed first hand how a number of underperforming signings and a not fit for purpose manager took us to the bottom of the division and it took a fair bit of money and a high profile to just about dig us out of a hole.
Our value as a club was surely higher with JL in charge and £47 million banked from the sale of Neves. JL may well have stayed if a buyer with fresh investment and vision came in.

Bang on … this is the key thing that I struggle to get my head around. If there was a manual on how NOT to run a premier league football club, it’s author would be none other than our very own Jeff Shi (with a silent T).

 

[Coshamwolves]

They didn't downgrade the manager to save money, in fact it cost them. He chose to leave as they would not invest. Not sure the 120M is quite accurate but can't be bothered to check. That said, it was a big about turn and I agree with Philips' take.

The 120M has`nt taken off the Cuhna and Bouba transfers totalling around 52M

 

[Wisdomwolf]

Guo is apparently unha

Johnny Phillips: Fosun frustrations forced Wolves into major reset

The strangest summer under Fosun’s ownership since their first one in Wolverhampton back in 2016 has just passed. Now, as the Premier League takes its early international break there is a moment to take stock of a difficult few months and look at the challenges ahead.

www.expressandstar.com

I like JP a lot however there‘s some unanswered questions which leaves a few things hanging up in the air. Why fosun changed tack is not Wolves specific but a policy commonly applied across the empire. A quick hour‘s online research would have saved a lot of the bother. Instead, another article whilst saying it’s time to move on goes over old ground.

 

[wwbug]

Two things I spotted.

1) Fosun are frustrated with the return on their investment .
Well they controlled that investment through Mendes ,and Gestute , so they wasted their own money.

2) Fosun want investment from outside and it hasnt come .
Would you hand your money over to Fosun/Mendes to control and invest in players ?

Get real , get better or get out. Thats the way of business.
My vote - learn, get better and succeed .

 

[Wolf316]

Two things I spotted.

1) Fosun are frustrated with the return on their investment .
Well they controlled that investment through Mendes ,and Gestute , so they wasted their own money.

2) Fosun want investment from outside and it hasnt come .
Would you hand your money over to Fosun/Mendes to control and invest in players ?

Get real , get better or get out. Thats the way of business.
My vote - learn, get better and succeed .

There’s no way on earth anyone is going to hand over millions and millions of pounds for a share in a Chinese owned football club where they’ll have zero say on anything it just ain’t happening.

 

[Wisdomwolf]

Two things I spotted.

1) Fosun are frustrated with the return on their investment .
Well they controlled that investment through Mendes ,and Gestute , so they wasted their own money.

2) Fosun want investment from outside and it hasnt come .
Would you hand your money over to Fosun/Mendes to control and invest in players ?

Get real , get better or get out. Thats the way of business.
My vote - learn, get better and succeed .

JP somewhat regurgitating same thing he said on 12th August article, which was:

“If Fosun are to turn this calamitous summer around, and succeed in stabilising a club that has been rocked to its core by the public shows of dissent and disagreement of the past three months then they must find a structure at the top designed to get the best from the relationship between head coach, ownership and everyone in between. They cannot afford history to keep repeating itself.”.

We all said halleluja

Since then the SD has been given greater influence and autonomy in appointing head coach and recruiting new players.

 

[wwbug]

JP somewhat regurgitating same thing he said on 12th August article, which was:

“If Fosun are to turn this calamitous summer around, and succeed in stabilising a club that has been rocked to its core by the public shows of dissent and disagreement of the past three months then they must find a structure at the top designed to get the best from the relationship between head coach, ownership and everyone in between. They cannot afford history to keep repeating itself.”.

We all said halleluja

Since then the SD has been given greater influence and autonomy in appointing head coach and recruiting new players.

Or here's a small pot , **** in that .
What we need is more resources and better management , not autonomy for the sake of it.

 

[Sussex Wolf]

Good article as usual. Not an awful lots that’s new, but passes the sniff test unlike some of that written about the club recently.

 

[inaglasshouse]

If this seasons dealings result in relegation then the emporers new clothes have been spun with invisible thread.
Of course we are not quite at the end of our dealings, we could still change the manager again, spend 50m in January, stay up and make a profit.

 

[Nige]

Cant read the article .. Premium Content .. In the Local rag ??

 

[Sussex Wolf]

Cant read the article .. Premium Content .. In the Local rag ??

It’s not a paid article, it just requires a free registration on the site. They’ve been doing it for a while.

 

[inaglasshouse]

It's great to have an excellent journalist who happens to be a true Wolves fan.

 

[Mugwump]

Who do people actually think is going to buy us? In many respects, we got lucky with Fosun and their Mendes connection. I do think if they dont have the will to back us now ( they do have the capability to drive us forward if they want ) they should put the club up for sale, but everyone saying they need to sell up have no clue who we get next. We could end up with far worse owners, or better ones. Selling isnt necessarily going to fix everything and make it all better.

 

[wolfgar]

The recruitment team did a pretty great job back in Jan. Absolute madness to not back them this summer with time and a reasonable budget (£40/50 million or so). Would have saved us a lot of stress and upheaval, and theres a fair chance that most of the cash would have been well spent? Giving them 3 days at the end of the window to dash around and bring in a few after selling a first teamer was dog**** really. I’d have been fuming if I were Hobbs. We probably missed out on some very decent signings this summer.

 

[Oh When the Wolves]

This is what I really can’t get my head around and the only thing I can think is that it won’t be his investment by then.

They really are incredible thick if the club isn’t sold within the next 2 months

 

[Scallywolf]

Cant read the article .. Premium Content .. In the Local rag ??

Just enter your email address and create a password.

A pain I know, but that’s how you’ll read the articles.

Can’t understand why the E and S have done this!

 

[Wolf316]

The recruitment team did a pretty great job back in Jan. Absolute madness to not back them this summer with time and a reasonable budget (£40/50 million or so). Would have saved us a lot of stress and upheaval, and theres a fair chance that most of the cash would have been well spent? Giving them 3 days at the end of the window to dash around and bring in a few after selling a first teamer was dog**** really. I’d have been fuming if I were Hobbs. We probably missed out on some very decent signings this summer.

An investment of around £50m would have kept Lopetegui too.

 

[WickedWolfie]

Just enter your email address and create a password.

A pain I know, but that’s how you’ll read the articles.

Can’t understand why the E and S have done this!

Putting the infrastructure in place before they start charging for real.