Wolves takeover edges closer

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Sir Jack last month agreed to sell the club to the Cheshire-based businessman for a nominal £10 although Morgan has also promised investment of £30million.

Chief executive Jez Moxey said: "As is the case with most transactions of this nature, there is a complicated legal process to follow and lawyers for both parties have been working hard since we announced this exciting news on May 21.

"Sir Jack and Steve have agreed the deal and there are no issues of concern.

"We simply need to ensure the detailed legal work is completed to everyone's satisfaction and this is taking a little longer than anticipated.

"We fully appreciate supporters are eagerly waiting for this new chapter in the club's history to begin and it will not be long before Sir Jack and Steve will attend a press conference to signify completion.

"Everyone is excited about the takeover and I know Steve is really looking forward to getting down to business at Molineux to begin turning his ambitions for Wolves into reality."