Annual report - AGM 2026
Between June 2025 and May 2026, Wolves 1877 Trust evolved from a supporter engagement organisation into a more structured governance and accountability body.
The 2025/26 season has been deeply disappointing both on and off the field, ultimately resulting in relegation from the Premier League. The club has committed to a complete refresh of its strategic direction and while there has been evidence of progress this season, we await the publication of a strategic plan setting out the club’s short, medium, and long-term vision.
We should, of course, acknowledge and congratulate Wolves Women on their well-deserved promotion. Their achievement demonstrates what can be accomplished when everyone is united behind a single goal: success on the pitch.
Key priorities included ticket affordability, meaningful fan consultation, infrastructure investment, and challenging what the Trust perceives as a short-term football and financial strategy under the current ownership.
The Trust’s key messaging has evolved into five broad strategic positions:
Key messaging topics throughout 2025/26:
1. Ticket Pricing & Affordability
Key Message
The cost of attending football has become unsustainable for ordinary supporters.
Wolves supporters have been “priced out.”
Matchday affordability is a community issue, not simply a commercial one.
The club should prioritise:
💠loyalty
💠attendance
💠local supporters over revenue maximisation
Main Campaign Positions
Stop the routine increases of season ticket prices ‘year on year.’
Protect concession pricing.
Reduce prices when relegated.
Increase transparency around pricing decisions.
Ensure Fan Advisory Board consultation before decisions.
Our Messaging:
Football has a spending, not a revenue problem.
Opposition to supporters treated primarily as a source of revenue
Strategic Position
The Trust frames ticket pricing as a governance and cultural issue, not merely a commercial decision.
Delivery - Our campaigning on ticket pricing has contributed to the significant reduction in season ticket and match day prices for the 2026/27 Championship season.
2. Fan Engagement & Governance Reform
Key Messages
Supporters deserve:
💠meaningful consultation
💠transparency
💠 democratic representation
Fan engagement should be:
💠structured
💠continuous
💠accountable
Main Governance Priorities
Strengthening the Fan Advisory Board (FAB)
Improving fan consultation standards
Expanding Trust membership and representation
Formalising supporter influence
Recurring Governance Concerns
Lack of strategic transparency
Insufficient supporter influence
Need for stronger accountability structures
Important Messaging
The Trust messaging repeatedly stresses - “positive dialogue” alongside willingness to challenge the club publicly if necessary.
Delivery – Our publication of the Manifesto for Change strategy document contributed to a wide-ranging fan consultation exercise, including direct meetings with the Trust and a supporters’ forum.
3. Long-Term Sustainability vs Short-Termism
Major Strategic Theme Emerging in 2026
The Trust has become increasingly critical of:
the club’s transfer strategy
lack of infrastructure investment
dependence on Premier League revenues
Key Concerns Raised
Over-reliance on player trading
short-term recruitment model
Failure to build long-term infrastructure.
Minimal capital investment in:
💠stadium
💠academy
💠training facilities
Significant Messaging
The Trust has directly challenged the club’s strategic direction, arguing that long-term planning and clarity have been lacking.
Short-term performance focus rather than long-term infrastructure development is not a sustainable policy. This is demonstrated by the fact that the owners have used ‘short term team building’ as a reason for little infrastructure development over the 10 years of their ownership. We now seem to back at step one – team building.
Strategic Shift
This marks a shift from the Trust’s traditional role as a supporter liaison body to one that is towards a more active supporter advocacy role, providing strategic scrutiny of football operations and ownership direction.
Delivery – We have challenged the club over it’s short, medium, and long-term vision and strategy. The club has committed to deliver a strategic review report as part of ongoing consultation.
4. Independent Supporter Representation
The Trust is focused on developing links with as many supporter groups as possible. Alongside our members, we believe our role is to represent a wide range of views in discussions with the club.
To this end, we have established a network of affiliated supporter groups. Notably, we have welcomed Pride in the Pack, Golden Black, and Girls in Old Gold, alongside established supporter clubs such as London Wolves and Cannock Wolves. More information can be found through this link.
Key Messages
The Trust is independent of the club.
Democratic legitimacy matters
Fan representation should not be symbolic.
Core Trust Objectives
💠 Increase membership.
💠Improve communication.
💠Expand participation.
💠Strengthen links with supporter groups.
Organisational Positioning
The Trust continues to present itself as
the primary democratic supporter body
formally connected to the Football Supporters' Association
operating under community benefit principles
Independent of the club
Delivery – The Trust continues to promote the benefit of a unified voice through membership of the Trust; we have increased our publication of strategic policy documents and have clear positioning on the key issues affecting Wolves supporters – directly and indirectly.
5. National Football Governance & Regulation
Key Messages
The Trust has increasingly linked Wolves-specific issues to:
wider football governance failures
national supporter rights campaigns
Key Topics
💠Independent football regulator
💠VAR governance
💠Ticketing standards
💠Fan-led review implementation.
💠Cultural heritage protection
Strategic Framing
The Trust has repeatedly argued throughout 2025/26 that football clubs are community institutions, not normal businesses.
Delivery – The Trust continues to be active participants at a national level through our role as members of the Football Supporters’ Association with representation on the national council and within the Fan Advisory Board consultation process.
6. Infrastructure & Stadium Concerns
Key Messages
Molineux is falling behind competitors.
Facilities require investment.
Matchday experience matters
Financial Governance Link
The Trust has highlighted:
💠lack of visible reinvestment
💠Molineux is an aging asset where commercial revenue opportunities are not being developed.
💠Spending on fixed assets is comparatively low relative to other clubs.
Our recurring criticism throughout 2025/26 ‘’supporters are paying more without seeing corresponding improvements to infrastructure’’.
Delivery – we continue to press the club on stadium development plans and seek the establishment of a ‘working group’ focused, specifically in this area.
7. Digital Ticketing & Inclusion
Key Messages
💠Digitisation should not exclude supporters.
💠Elderly and less digitally confident fans require protection.
💠Digital transition must remain flexible.
Position Taken
The Trust supports technological progress BUT opposes exclusionary implementation. We acknowledge the club’s position in delaying implementation whilst trials are completed.
Delivery – The Trust published a guide on the introduction of digital ticketing and supports the club’s decision to delay the introduction of digital tickets until full trials are completed.
8. Links to key Trust publications during the 2025/26 season
Below are links to some of our key publications during the 2025/26 season:
Wolves 1877 Trust Objectives 2025/26 - Defines the Trust’s strategic priorities and governance stance
https://www.wolves1877trust.co.uk/news/manifesto-for-change -The Trust published its 'Manifesto for change' report
https://www.wolves1877trust.co.uk/news/trust-statement-meeting-with-club - The Trust publishes a review of our meeting with Nathan Shi and Senior Executives
https://www.wolves1877trust.co.uk/news/trust-ticketing-survey The only fan survey carried out on ticket pricing
Wolves 1877 Trust Calls for Ticket Price Freeze Most prominent supporter affordability campaign piece
Molineux Finances – An Overview Our detailed critique of ownership strategy and sustainability
https://www.wolves1877trust.co.uk/news/relegation-statement-and-what-the-trust-will-do-now Our statement after relegation
The 2025/26 season has been the most challenging under the ownership of Fosun, whilst we have seen a steady decline over a number of seasons, the club’s ‘sustainable investment’ policy has unravelled into what the Trust believes had become an incoherent strategy that has contributed to the club’s relegation. The Trust has collaborated with other supporter groups to raise our concerns through both visible protests and structured dialogue. We believe the club is in ‘listening mode’ but our overriding message is that actions speak louder than words. The relationship between supporters and Fosun is at its weakest point since the ownership group took control of the club. Without meaningful and sustained change, together with a clearly articulated long-term vision for the club, there is a significant risk that this relationship will be irreparably damaged. Without a clear vision for the club over the short, medium, and long term this connection will be irreparably damaged.