Bull is planning to follow Wolves as a fan in the Premier League
Wolves legend Steve Bull says he is confident manager Mick McCarthy will make the right choices for the club in the transfer market this summer.
Bull told BBC WM he is not concerned by the lack of new faces arriving at Molineux so far.
"Not yet. Mick's a very shrewd man. He knows what he wants and what he's got to get. It takes time to bring players here," he said.
"He'll be ready, don't worry, for the start of the season."
Bull added: "We've got a young and up-and-coming side at the moment. We need a few experienced players to bring these kids through.
"Some of them are going to be disappointed next year not playing in the Premier League, but they'll be getting themselves ready for two years and three years on at this club."
Bull, Wolves' all-time top-scorer with 306 goals, has backed Sylvan Ebanks-Blake to follow in his footsteps as one of the club's best strikers after finishing top of the goalscoring charts in last season's Championship.
"He's a goalscorer. I debated when he first came whether he was a bit slow," said Bull.
"But when I actually watched him I thought 'he's got an eye for goal'. That's all that matters for me, if he can score goals, get them in the Premier League and keep us there."
Bull was at Molineux to take part in the ceremonial raising of the Premier League flag, following the meeting this week at which Wolves and the other newly-promoted clubs officially became members of the League.
He said he was excited to be involved in the celebration.
I hope they can see it in West Bromwich!
Steve Bull enjoys raising the Premier League flag outside Molineux
"It is a big day," he said. "We're there - we've hoisted the flag up today. I hope they can see it in West Bromwich!
"I'm going to enjoy [next season] as a fan. I lie in bed now thinking which grounds I am going to go to next year. Some of the grounds I haven't been to and I want to see what they're like. I want to visit the grounds with the supporters and support this team in the Premier League."
While enjoying a friendly joke at their expense, Bull said he was disappointed not to have West Bromwich Albion - the club that sold him to great Black Country rivals Wolves - in the Premier League as well.
"It is a shame, but I can't say that too loudly in Wolverhampton," he said.
"I liked the Midlands derbies. I loved playing in them and I loved watching them. The atmosphere is absolutely unbelievable. We're losing out on six points with them coming down!"
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