West Bromwich Albion
Entrepreneur Guochuan Lai is leading the takeover and promises to 'maintain the club's stable structure, respecting its well-run nature and its heritage'.
It has been a fascinating week at Wolves, with manager Kenny Jackett dismissed and Walter Zenga appointed, and four new players signed, Helder Costa, Silvio, Joao Teixeira and Jon Dadi Bodvarsson, with Anderson Talisca tipped to follow.
Unlike Championship hopefuls Wolves, West Brom are already in the Premier League, and will be hoping to use their new found wealth to solidify their Premier League status and build for even more ambitious goals.
West Brom had been linked with a takeover long before Wolves, and there was cause for celebration among the Championship club last week when they beat their Premier League rivals to the punch.
Now the Baggies have a new future of their own to look forward to, and Wolves fans have been quick to have their say...
Not arsed who has bought Albion or who is richer. We are irrelevant to each other until we are back competing against each other #wwfc— Kevin Smyth (@KevSmyth78) August 5, 2016
Another Chinese takeover in the Midlands. I wonder if Wing Lok in Kingswinford could check behind the sofas for change to buy Walsall #wwfc— Matthew Ball (@BallyJNR) August 5, 2016