Wolves chief executive Jez Moxey has outlined owner Steve Morgan’s reasons for selling the club and insisted it is not a knee-jerk reaction.
He put the Sky Bet Championship club on the market and stepped down as chairman on Monday with Moxey also insisting Morgan does not have time to devote to Wolves any more.
He bought Wolves for £10 in 2007 from Sir Jack Hayward with the promise to inject £30million into the Molineux club.
Moxey confirmed some supporters approached Morgan ahead of the 1-1 draw with Preston on Saturday but said he wanted to leave for a number of reasons.
“Steve remains owner, but we’ve lost a chairman. He was totally committed to Wolves and works harder and longer than anyone I know in my life,” Moxey told a press conference.
“He told me there is not one single reason why he has reached this decision, it was a cumulative effect of many different factors.
“Following his divorce two years ago he now has a new partner, he has reassessed his time commitments and feels the time is right to pass the club on to someone else. He can no longer devote the necessary time and energy into being Wolves chairman.
“Wolves supporters did have words with him before the Preston game. Small numbers. That’s part and parcel of the game. He understands that. He can take the rough with the smooth. That wasn’t the reason.
“At no point has he said to me the supporters have forced him out. It was an accumulation of things.”