In a statement the club said: “Wolverhampton Wanderers FC announces today that after eight eventful and enjoyable years at the club, and after much thought, owner and chairman Steve Morgan has decided to put his 100% shareholding in the club up for sale.
“Steve will step down from the board with immediate effect and day-to-day activities will continue to be managed by the chief executive with the current board overseeing operations.”
Mr Morgan will maintain his financial commitment to the club until a new owner is found.
Trying to make sense of the timing of the announcement, the local Express & Star newspaper comments that: “Morgan is dealing with personal issues away from Wolves, in the midst of divorcing and coming to a settlement with his second wife (his first ended with a £100m settlement around 15 years ago).”
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