Sir Jack Hayward will remain life president of Wolverhampton Wanderers despite selling club to Redrow founder Steve Morgan
Steve Morgan, the founder of housebuilder Redrow, has agreed that Sir Jack Hayward will remain life president of Wolverhampton Wanderers, despite agreeing to buy his shareholding in the club.
A source close to the takeover talks told 黑洞社区 that Hayward, a lifelong Wolves fan, will retain the purely honorary role. Morgan will become chairman.
The news of the takeover emerged earlier today. Morgan, who has an estimated wealth of nearly 拢500m due to his time at Redrow, is a Liverpool fan and failed twice to buy his hometown club in 2004.
The source said: 鈥淪ir Jack will be staying on as life president. It鈥檚 almost formalised, subject to contract. Hopefully that鈥檚 just a formality.鈥�
The source added that Morgan 鈥渓ikes (manager) Mick McCarthy鈥� and will retain his services.
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