Wolves: Jeff Shi leaves Premier League basement side as he steps down
Outgoing chairman Shi had been the target of unhappy Wolves fans and critics saw him as the man who oversaw the club’s controlled decline under Fosun.
He has been the target of fans’ ire for months and his long-term frustrations are now starting to boil over as Wolves – 14 points from 17th place – look to return to the Championship.
Wolves host Brentford on Saturday and will look to avoid equaling the Premier League’s worst opening winless run.
If they fail to beat the Bees at Molineux, they will match the longest winless start to a Premier League season at 17 games, set by Sheffield United in 2020-21.
Under the management of the departing Shi, Wolves won promotion from the Championship with Nuno Espirito Santo in charge in 2018 and subsequently finished seventh twice in the top flight.
They also reached the quarter-finals of the Europa League in 2020 and the semi-finals of the FA Cup in 2019.
Speaking last week, Jeff Shi said he understood fans’ disappointment when thousands of people boycotted the first 15 minutes of the 4-1 defeat against Manchester United on December 8.
“It’s a very natural feeling from the fans,” he said. “Five or six years ago we were at a high level, semi-finals in the FA Cup and quarter-finals in Europe.
“When you reach these levels, the fans don’t want to let it go. I feel that too. When you lose something like that, it’s a very heavy blow; I empathize with that.”
“I’m not just a fan, I’m the CEO and president of the club. I need to think about how to evaluate the last ten years more realistically and how to think about the next 10 years.”
Shi spoke to BBC WM alongside manager Matt Jackson last week and the pair suggested Wolves had made a mistake in the summer transfer deal.
“Maybe we sold too many players in one window,” Jeff Shi said. “You can see the squad and compare it with last season, maybe we changed 40% or 50% of key players.
“Rebuilding a team is a task but the Premier League is very tough. If you can’t control the tempo and need longer time to rebuild the team, the games will punish you.”
