Summary Wolverhampton Wanderers are currently unable to make any signings due to their financial situation and the Premier League's profit and sustainability rules. The club has already sold several players this summer, including club captain Ruben Neves, in order to raise funds. If Wolves can stay within the financial parameters set by the regulations, they may be able to spend more freely in future transfer windows. However, their lack of signings this summer may make the upcoming season more difficult.
Wolverhampton Wanderers are "not in a position to sign anybody at this moment" despite links to several players in the market, per journalist Alex Crook.
Will Wolverhampton Wanderers make any signings this summer?
It has been quite a bleak transfer window for fans of the Old Gold so far this summer.
It feels like a long time ago that the Midlands side were splashing £100m plus in the space of a single window to chase European football and stave off any threat of relegation.
The only significant developments regarding transfers at Molineux this summer have been player sales, not signings, with the biggest being the departure of club captain Ruben Neves after he left for Al-Hilal in a deal worth £47m.
The only players that have joined Julen Lopetegui's side so far this summer – that weren't already agreed there in January – have been Tom King on a free from Northampton Town and former player Matt Doherty as a free agent.
Wolves were interested in signing Bristol City's highly-rated youngster Alex Scott at one point earlier in the window but, with their current financial situation, find themselves unable to go ahead with any signings, per journalist Alex Crook.
He explained the situation live on TalkSport, with the clip being posted to their YouTube channel:
"Wolves at one stage showed a lot of interest in Alex Scott. I've been told this morning by sources close to Wolves they're not in a position to sign anybody at this moment in time which might worry Wolves fans, let alone a player for £25m."
Why are Wolverhampton Wanderers unable to make signings?
Unfortunately for Wolves, their inability to spend much, if any, money this summer stems from one issue: they have lost too much of it over the last two years.
The Premier League's profit and sustainability rules clearly state that a club in England's top flight cannot accumulate financial losses exceeding £105m over a set three-year period, with the penalties for doing so ranging from further fines or even points deductions.
And according to the Telegraph, the Old Gold are into the third year of their current three-year period; they announced a loss of £45m in February of the first year and between £60m-70m for the second, meaning that had nothing been done they would have easily blown past the £105m allowed by the league.
Premier League clubs have seen that those who break the rules, like Manchester City and Everton, will be investigated and are at genuine risk of facing repercussions for their disregard of said rules, a situation that has caused other sides, like Wolves, to approach the regulations much more seriously going forward.
The good news for fans is that, so far, they have raised around £90m from player sales since the end of the last campaign, and that should the club manage to end this three-year period within the parameters set by the regulations, they can go back to spending a bit more freely in future windows.
That said, with the exodus of quality players from the side over the last few months, survival might just be that much more complicated in the coming season, especially if they end the summer without spending a single penny on a new player.
