CHAMPIONSHIP football club Wolverhampton Wanderers has been bought by Chinese giant Fosun International.
The deal, which was around £45m, completed this morning and sees the exit of Redrow chairman Steve Morgan after nearly a decade of ownership.
Chief executive Jez Moxey will also depart in the coming weeks, after 16 years at Wolves, and director Ashley Lewis will leave the board.
Fosun will recruit a new chief executive and put Jeff Shi and Sky Sun on the board alongside existing non-executive directors John Bowater and John Gough.
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