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Author: Scott Cooper Date: 26-09-03 Time: 11.00am

 Wolves Chief Executive Jez Moxey has explained that the new owners must have a certain pedigree before Sir Jack Hayward hand over the club.

 Sir Jack announced at an 1877 dinner on Thursday that he is ready to step down and move on as chairman as Wolverhampton.

 The likeable 80yr old has pumped millions of pounds into Wolves but now is ready to "hand over" the club to new owners.

 Jez Moxey told WOW  “When Sir Jack spoke at Molineux last night, it was the first indication of his desire to step down and hand over the club" 

  “He would prefer a Wolverhampton based consortium to take over but he is willing to talk to anyone with a genuine desire – and pretty deep pockets – who would like to move us on to the next stage from where we are now."

  “In order for the club to meet its expectations, significant investments would need to be made and nothing is going to change until we find the right partners to do business with. "

  “As far as the Hayward family, the board and I are concerned, this doesn’t mean that there’s a ‘fire sale’ going on or that the club will change easily."

  “We are only interested in someone coming in who has the interests of the club at heart and who has the necessary financial resources.”

 The Wolves Chief Executive also spoke of Sir Jacks time at the club.

  “Running a football club can be problematic,” Moxey said “Sir Jack is 80 years of age and he has toiled with the club since 1990 during which time he has taken some level of criticism."

  “I think what he would like to do now is just turn up and cheer the team on as a fan – which of course he already is. "

  “We all love him very dearly and would love for him to remain as the club’s President and so I hope that any new owners would let him stay on in that capacity."

  “But, I would stress again that the club is not for sale. Sir Jack wishes to hand it over when a suitable new owner can be found."

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