Statement from Wolves Chairman: "we are truly sorry"

Today is a sad day at the end of what has been an horrendous season; relegation is a devastating blow for everyone who loves Wolves.

As Chairman of the Club I take my responsibilities very seriously; we have failed our supporters, and the City, and for that I am truly sorry.

We are all looking at ourselves in the mirror and reflecting on what went wrong. It is only right the players do the same. Many of them know they have not performed to the standards they are capable of and they must take their share of the responsibility.

The extensive injuries which hit us at a crucial time in the season did not help our plight. Clearly a lot of mistakes have been made over the past two seasons. Although every decision has been with the Club’s best interests at heart, we have clearly got some of those decisions wrong.

I understand the fans’ pain, anger and resentment towards me, the Board and the players, especially within the context of successive relegations. It’s not been good enough and we must improve both on and off the pitch.

Next season is going to be very difficult. However, we will face the task of League One football with utmost determination and humility; we will do our very best, compete in every League match and fight our way back. We must restore pride and passion into the team, rebuild our reputation and regain the trust and support of our fans.

Quite naturally a number of players will leave in the summer, but they will only go if it is right for the Club. Perhaps we should have moved more players on in the past two seasons, but we honestly expected this group of players would be good enough to be successful in the Championship.

One positive outcome of the season has been the emergence of some of the former Academy players into the First Team squad. It is the younger players who will play an essential part of the team going forward. These will be supplemented by recruiting new players for the challenge ahead. I confirm that funds will be made available for this purpose within the confines of the new Football League financial fair play restrictions.

I do not intend to say anymore publicly at this time. As a club we need to reflect on the events of this season and take appropriate measures to move forward.

It will not be easy and there will be difficult challenges ahead, but I am more determined than ever to see Wolves prosper and I remain committed to the Club.

Finally, I’d like to thank personally, again, all our supporters who have put up with such disappointment and frustrations over the past two seasons. I know the fans are fiercely loyal but I equally know they are really suffering right now; we all are. I hope in time that together we can rebuild and return Wolves to where we all want the Club to be.

– Steve Morgan, Wolves Chairman