Wolverhampton Wanderers' owners reportedly face losses of around £1bn after travel company Thomas Cook was declared bankrupt on Monday.

Wolverhampton Wanderers' owners reportedly face losses of around £1bn after travel company Thomas Cook was declared bankrupt on Monday.

Chinese conglomerate Fosun International, who took sole control of the club in 2015, is said to have been the biggest single shareholder in the company, owning 18 percent in total.

Thomas Cook, a widely popular travel operator, saw its share collapse from a peak of £1.50 in May 2018 to a few pence this month, prompting the company to declare itself bankrupt on Monday with debts of £1.7bn.

According to the Daily Mail, Wolves are adamant that Fosun's losses will have no bearing whatsoever on the functioning of the club.

Since the takeover in 2015, Wolves have enjoyed a remarkable evolution on the pitch and in financial terms under chairman Guo Guangchang, who is said to be worth around £5bn.

Fosun value Wolves at around £350m, considerably more than the £45m paid to take control of the club, but are reportedly looking for investment as they look to sell off 20 percent of the club.

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