The chairman and founder of a leading UK property developer is selling his 100% stake in Wolverhampton Wanderers Football Club.
Steve Morgan, who founded residential property development firm Redrow in 1974, is selling the club after eight years’ ownership.
A statement on the club’s website said: “Steve would like to relay to all concerned that his ongoing commitment and financial support to Wolves will continue until a new owner can be found.
“He would like to thank everyone connected with the club for their support and backing over his tenure to date and, as always, wishes Wolves every success for the future.”
Steve will step down from the board of the club with immediate effect, although the chief executive and the board will continue to manage the day-to-day running of the club.
Steve also stepped down as Redrow Chairman in November 2000 but returned to the firm in March 2009 and was appointed Chairman again in June that year.
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