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Last Updated: Thursday, 9 August 2007, 11:16 GMT 12:16 UK
Morgan completes Wolves takeover
Steve Morgan
Morgan tried to buy Liverpool in 2004
Cheshire businessman Steve Morgan has completed his takeover of Wolves, ending Sir Jack Hayward's 17-year reign at Molineux.

Hayward will not profit from the deal, which saw Morgan pay a nominal 10, alongside a guaranteed 30m investment.

Hayward said: "We did not want to go the way of so many clubs and hand over to foreign investors."

Morgan added: "It is a great privilege to succeed Sir Jack as owner of this famous club."

606: DEBATE

Morgan, 54, who tried to buy Liverool in 2004, made his fortune after launching building firm Redrow, but sold his majority shareholding in 2000.

He is chairman of the Bridgemere Group of Companies as well as two other plcs.

Wolves have spent only one season in the top flight since 1984 - their solitary Premiership season coming in 2003/04 - but Morgan has vowed to bring back the glory days.

"I remember the days when Wolves were the greatest club in the land and, although times have changed, we are going to do our best to take Wolves back to where they were," Morgan said.

"I will work tirelessly alongside Jez Moxey, the chief executive, the rest of the board and the backroom team, manager Mick McCarthy and the players to do my very best for Wolves.

"The loyal fans of this club deserve nothing less.

"When the club first approached me about taking over at Molineux the deal was all but done in the first two minutes of discussion and I feel privileged to have been the right person to have come along at the right time."



SEE ALSO
Wolves sign Royals keeper on loan
09 Aug 07 |  Wolverhampton Wanderers
Morgan withdraws Liverpool offer
21 Dec 04 |  Liverpool
Morgan waits for Liverpool prize
03 Dec 04 |  Liverpool
Fans rejoice as Wrexham deal done
04 Aug 06 |  North east
Cash loan delays Wrexham FC deal
01 Aug 06 |  North east
Liverpool reject Morgan bid
24 Aug 04 |  Liverpool
Liverpool snub Morgan again
21 May 04 |  Liverpool
McCarthy begins Wolves clear-out
18 May 07 |  Wolverhampton Wanderers
West Brom 1-0 Wolves
16 May 07 |  Championship
Wolves 2-3 West Brom
13 May 07 |  Championship


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