Chief executive Jez Moxey insists being relegated from the Premier League "will not be the death knell of Wolves".
Championship is a difficult league, says Wolves chief exec
Chief executive Jez Moxey insists being relegated from the Premier League "will not be the death knell of Wolves".
Sunday's 2-0 loss at home to Manchester City confirmed the end of the club's three-year spell in the top flight after a dismal sequence of 10 games without a win and nine successive Molineux defeats.
But while relegation usually means dramatic cost-cutting and a period of major upheaval, Moxey insists Wolves are in a sound financial position and will not be panicking.
"We are in very good financial shape so no one needs to panic," said Moxey.
"We are financially strong so, unlike some clubs that get relegated and the vultures are circling, that won't be happening here.
"The club is in very good shape except from losing Premier League status, which is obviously the primary yardstick. But we are not in a mess.
"We set up the club knowing we could prosper in the Premier League, survive in the Premier League, or we could be relegated.
"Unfortunately we have finished up getting relegated but it will not be the death-knell of Wolverhampton Wanderers.
"We will be looking to change the team and try and improve it but we are not under any pressure to sell anyone."
Difficult
Despite their financial stability, Moxey is under no illusions as to the difficulty of the task ahead.
He added: "The Championship is a difficult league and I have a feeling that next season will be as difficult as it will ever be.
"It is going to be probably more competitive than it has ever been.
"We will really need to be on our game if we are to be competitive in it but that will be our objective."
