Wolverhampton's promotion back into the Premier League could see the club receive a massive financial boost, that could reap benefits for the Black Country community. Wolves participation in the Premier League could generate up to a £140m, if they perform well next season.
Wolves secured a well-deserved promotion to Premier League football on Sunday following a 2-0 win over Birmingham that will see them compete in England's top division for the first time since the 2011/12 season.
According to Dr. Rob Wilson (via Express & Star), an expert in football finance at Sheffield Hallam University, Wolverhampton will receive £120m from television and sponsorship deals, which could rise to £140m if they remain in the Premier League.
This could provide a massive boost for local businesses and an economic lift for the entire community.
“There will be benefits for shops, bars, restaurants and hotels in the Black Country. It's great for the region, although the lion's share of the income will go directly to the club," said Wilson, who thinks that the club's links to China could also spark extra financial income.
The success of the club have also brought a great deal of optimism and confidence in the people of the region, said chief executive of the Black Country Chamber of Commerce, Corin Crane (also via Express & Star).
"Wolverhampton and the Black Country are in a period of quite some change and the global interest from the Premier League will only add to that.
"Over the next few years the impact on tourism will be fantastic, with pubs, bars and hotels all seeing a huge increase."
Wolverhampton have had an incredible rise under Nuno Espírito Santo, since he took over in May 2017. Wolves require only one point from their next three matches to win the Sky Bet Championship.