After an enjoyable season petered out badly in the final few weeks — winning only one of their final 10 games in the Premier League and losing seven of them — Wolves face a vital transfer window.
After finishing 14th, they must ensure they build on the positive months of the campaign instead of carrying its anticlimactic conclusion into 2024-25.
Ahead, there are lots of unknowns about the forthcoming window: who might leave? What that might mean for which new faces arrive? But there are some things we can be more certain about.
Here is a look ahead to Wolves’ massive summer.
What positions are they looking at this summer?
As in seemingly every window for the past few years, the priority will be adding the specialist central striker. Possibly even two. It is the position they have been lacking in since Raul Jimenez, who joined Fulham last summer, was in his prime.
The search for a No 9 has gone on for too long and cannot be allowed to extend any longer.
But there will be other issues to address, too. They need extra depth in other forward positions, potentially upgrades for their wing-back understudies, probably another centre-back and then replacements for any key players they choose to sell.
Which players are they looking at?
Che Adams is known to be a target and, with talks already at an advanced stage, is a distinct possibility to join Wolves when his contract at Southampton expires in the summer.
Chelsea striker Armando Broja is also a player admired by Gary O’Neil. When Wolves enquired about a loan deal in January, the proposed purchase price for a summer option to buy was way above Wolves’ valuation of the player, but if Chelsea lower their demands, then expect Wolves to be in the mix.
It is also possible they could return to a deal for Borussia Monchengladbach’s Nico Elvedi should they move to strengthen at centre-back. The Switzerland international signed a new contract with the German club last summer when his proposed move to Molineux failed to materialise, but it contains a release clause, believed to be set at around £8.5million.
Che Adams celebrates promotion with Southampton (Alex Pantling/Getty Images)
What moves have they made already?
Tying Tommy Doyle down to a permanent, four-year contract appeared likely from the moment he joined from Manchester City. A purchase price of £4.3million made triggering the option a no-brainer. That option was activated earlier this month and Doyle will become a permanent Wolves player on July 1.
Moving for Adams is the other big decision to be made early, but talks about new contracts and the future of Wolves players out on loan were left on hold during the season.
Who will make the key decisions this summer?
After an era in which super-agent Jorge Mendes played a central role in incomings and outgoings at Wolves, sporting director Matt Hobbs has been given a firmer grip on the reins since last summer.
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This summer, Hobbs is set to lead the transfer process, with head coach Gary O’Neil having a big say in comings and goings and recruitment bosses Ben Wrigglesworth and Elliot Sutcliffe having a key input.
But ultimately, policy will be set by owners Fosun, who are represented on the ground by executive chairman Jeff Shi, so it is them and he who will have the final say on any deals given they will be the ones signing the cheques.
Wolves could return to Nico Elvedi at Borussia Monchengladbach (Christof Koepsel/Getty Images)
Who will they be looking to sell?
Forwards Fabio Silva, Goncalo Guedes and Daniel Podence all ended the season out on loan and are all surplus to requirements at Wolves. All three will be available for transfer.
Finding a buyer for 28-year-old Podence might be easier than the other two as his book value will be lower on Wolves’ balance sheet. If clubs cannot stump up cash, then further loans might be considered.
There has also been an acceptance for a while that this summer is the natural time for Pedro Neto to depart, so Wolves will not stand in his way if they receive an offer in the region of £60million.
Others might be sought after, but there is no one else that Wolves are either keen or content to sell.
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Which players’ contracts are expiring? Who is expected to renew?
No senior players are out of contract but Nelson Semedo, Craig Dawson and Pablo Sarabia will enter the final year of their deals this summer, so decisions will need to be made on the trio.
What might happen first?
Wolves would ideally like clarity on the futures of Neto and their other crown jewels — Rayan Ait-Nouri, Joao Gomes and Matheus Cunha — before moving on to bidding for new players, but such a luxury is rarely available in transfer windows.
In reality, they are likely to be spinning multiple plates throughout the window.
Pedro Neto’s future is a key piece in the Wolves jigsaw this summer (Naomi Baker/Getty Images)
What is their PSR position?
Unlike last summer, Wolves do not expect to be close to breaching PSR this time around, so there will be less fear of points deductions based on their spending.
Any restrictions this year will be more to do with Fosun’s changing approach to spending, which means Wolves will have to raise any significant transfer funds through sales.
What sort of budget do they have?
Wolves’ net budget is likely to be close to zero. The days of Fosun injecting millions of pounds to buy players or of Mendes parking his latest up-and-coming player at Wolves for a season, some of whom worked out well, appear to be gone.
But Wolves have several valuable assets who are expected to attract interest, so it is likely they will look to cash in on one or two and use the funds to pay for new players.
Hobbs and O’Neil will simply hope that Fosun make all of the incoming money available for reinvestment.
(Top photo: Fran Santiago/Getty Images)
