The club has reportedly been looking for a new owner since last September, but has so far failed to find a buyer.
Wolves Chief Executive Jez Moxey has set the club a minimum target of a top six finish
Wolves legend Mel Eves has admitted to the Express and Star that he is envious of how Midlands rivals Aston Villa have moved swiftly in bringing in a new owner, adding that he does not expect his former club to be challenging for promotion to the Premier League next season.
Current Wanderers owner Steve Morgan announced his intention to the sell the club last September, but has so far failed to find a buyer, despite number of reportedly interested parties.
Wolves have been out of the Premier League since 2012
Despite events off the pitch, chief executive Jez Moxey has recently set out the ambition of a top six finish next season - a goal Eves believes will be difficult to achieve without fresh impetus and new ideas.
Having seen how Aston Villa have moved to get in new owner Tony Xia, Eves admits his former club will need to quickly follow suit if they are to compete.
New Aston Villa owner Dr Tony Xia during the press conference
He said: "My head says we are going to struggle to compete - even though my heart hopes we do.
“You need the same thing to happen as has happened at Villa, with them getting a buyer.
“Had Villa come down and remained in the state they were in, it might be different.
Wolverhampton Wanderers manager Kenny Jackett has been given the aim of a top six finish
“But with the impetus of having a new owner, they will be contenders. It is that kind of thing which we need at Wolves."
Having been out of the Premier League since 2012 Eves believes a change at the club is has been a long time coming.
He added: “There needs to be a tweak to the culture at Molineux - it has been needed for some time.”