As a way to soften the financial consequences that clubs suffer once they are relegated from the Premier League, these clubs receive parachute payments and one of these clubs is Wolverhampton Wanderers which is currently performing in the English Championship League after having lost their spot in the Premier League back in 2012.
Even with these parachute payments, Wolverhampton reported annual losses of around €1.7 million. Nonetheless, this won’t stop the manager Kenny Jackett from trying to accomplish what he has in mind which is to invest in youth in order to achieve success and secure a long term future that can allow the club on creating a stable system where young players get their chance to showcase their abilities and eventually get promoted to the main squad.
“I think we’re committed to a structure that will help us and sustain it long term, and is realistic as well, to see us competing at the top of this level and then be getting into the Premier League,”
“And I think that structure is really building strongly from the bottom with the academy, then if possible buying young players.There are many reasons why that’s the right way to go. But actually throwing everything at it, I don’t think we’re going to do that.”Wolverhampton’s Kenny Jackett said.
Not will this increase the quality of the squad with young players entering the team on a consistent basis but it can also give some breathing space for Wolverhampton as they can opt to sell their players to other top teams around Europe.
BT and Sky have recently secured TV rights of the Premier League which will grant the clubs participating in the league an increase in their revenue of around 70% and now clubs currently competing in the 2nd tier Championship League are eager more than ever to enter and compete in the Premier League.