Wolves owner Morgan ready to sell club for at least £30 million

Wolverhampton Wanderers' owner Steve Morgan has said that he is ready to sell the club if he receives an offer between £30m and £40m.

The Molineux chief would give the green light for an offer closer to £40m plus an agreement for significant investment to protect his legacy.

Morgan put the club on the market and stepped down as chairman in September. The 63-year-old bought the club from Sir Jack Hayward for £10m 2007 with the promise to invest £30m into Wolves.

He got the side back into the Premier League in 2009 but saw them tumble into Sky Bet League One after successive relegations in 2012 and 2013.

The process to find an owner is ongoing and it is understood Wolves are in talks with several interested parties.

Chief executive Jez Moxey confirmed there were numerous factors for Morgan's departure, including reassessing his commitments following his divorce and meeting a new partner.