Chinese conglomerate Fosun International is attempting to sell a stake in Wolverhampton Wanderers as it gauges investor appetite for an eventual public listing of the club as part of a unit containing other sports-related assets that it owns.
The sale, which has been under way for months without attracting a buyer, is intended to determine how such a float would be received, according to people familiar with the company’s plans.
“It’s more to test the market, to see the value of Wolves,” said club chairman Jeff Shi, confirming that Fosun is exploring a stake sale. Wolverhampton, he added, was also looking for an investor to help promote the team outside of China: “It’s more about getting the right partner with strategic connections.”
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