Wolves reject takeover bid from Souness consortium

Wolves have rejected a takeover bid from the consortium headed by Graeme Souness.

The Championship club have revealed the £20m (€30.5m) offer is “significantly below proposals already put forward by other parties”, and have appointed a leading City investment bank to advise on the other offers.

Rothschild advised on the recent takeovers of Manchester United and Aston Villa and provided expert financial advice to Arsenal, Liverpool and the Premier League.

The club’s owner, Jack Hayward, has offered to hand over controlling interest at Molineux in exchange for significant investment in Wolves. He initially asked for £40m (€61m) to be pumped into the club, but halved that in November – apparently sparking the current interest.