Chinese billionaire linked with Wolves takeover

Chinese billionaire William Ding Lei becomes the latest big name to be linked with a takeover of the English Championship side Wolves from its outgoing owner Steve Morgan, according to Express & Star.

Speculation has been rife for months as to who will buy the Wolverhampton–based football club.

Several big names, both in football and in business, are rumoured to have expressed an interest in taking the club from Morgan. And Ding Lei, the 10th richest man in China, is the most recent one thrown into the mix.

The 44-year-old self-made billionaire amassed his fortune through Chinese internet technology firm NetEase and is said to be worth almost £7bn. 

Other names linked with a takeover include former Wolves players Robbie Keane and Kevin Muscat, currently playing and managing in America and Australia respectively.

Chief executive Jez Moxey said the club would scour the globe to find a new owner who was right for the club.

It is believed there have been between 30 and 40 expressions of interest, which have been whittled down to 10 serious potential buyers.

Non-disclosure agreements between all parties have been signed. And Wolves have refused to comment on any speculation, preferring to keep all discussions as private as possible until a deal has been signed.

Source: expressandstar

Proofread by John Devlin