Jeff Shi speaks on Wolves’ transfer window, keeping Strand Larsen, relationship with Pereira

Jeff Shi speaks on Wolves’ transfer window, keeping Jorgen Strand Larsen, and his relationship with manager Vitor Pereira.

The Wolves chairman reflected positively on the summer transfer window, saying it was geared toward supporting manager Vitor Pereira’s philosophy through daily communication, achieving 90% of the targets despite not fulfilling all.

The focus is on commitment and Premier League readiness, while streamlining the squad for competitiveness rather than financial necessity (though it was positive overall).

There were no concerns over three initial defeats, saying attributes to squad changes needing time to gel.

Shi highlighted strong team spirit, chemistry, and unity under Pereira as key to success, contrasting last season’s issues. He also spoke of his optimism about potential cup runs.

There were mentions for Matheus Cunha, Rayan Ait-Nouri, Nelson Semedo, Fabio Silva, Tommy Doyle and Boubacar Traoré, and changes to the staff, with the hope of better alignment and chemistry to back Pereira.

Regarding the relationship with Pereira, he described it as close and frequent, with Pereira having final say on signings.

Shi stressed backing him for stability, praising his impact since joining and aiming to compete beyond survival, while adding that selling Jorgen Strand Larsen was never considered.

Interviewer: “Jeff, thanks for joining us. Now the transfer window is closed, how do you reflect on our business?”

Jeff: “I think it’s a good window. I think the key purpose of the window is to help the coach. I think we spoke with Vitor almost every day and even when he was on holiday in Portugal, we talked a lot. So we tried to build a squad based on his view and his philosophy and how he tried to adapt to the league or whatever. Of course, it’s not 100% to fulfil all the signings we want, but I think 90% we are there to help him.”

Interviewer: “Obviously, three games into the new season, three defeats, obviously a long way to go. Do you have any concerns about the start of the season?”

Jeff: “No, I think we have been in the league enough time, right? So I think we had eight seasons now, seven seasons in the Premier League and two seasons in the Championship, and now it’s the tenth season, so we know the league well enough. The first three games will not define the whole season. If we win more games, I would be more happy. But I think it’s just the start of the season.And one of the reasons is I think we had a big change in the squad in the season. And we need a little bit more time to set up the squad and to shape something new, something more strong, whatever, and to help the coach to do that. So I think maybe that’s one of the reasons impacting us in the first three games.

“But it’s a long, long season, and it’s 38 games. So I feel the more important thing to define this season is the squad, is the coach, and us as a team, the chemistry, the unity, the hard work. If you have that foundation, you will have a strong season. No doubt about this. If you don’t have that, maybe you have a doubt.

“Like the last season, I think in the first half of the season, the squad, maybe I can’t comment too much, but I think before Vitor came, the team chemistry had some problems and we all know that. So that is a key reason for a very bad first half in last season.

“But this season, I think that issue is gone. I think we have a strong team spirit, are very committed in the team structure and the leaders, whatever.

“So that’s the best plus for the start of the season. When I say about start of the season, I mean at least 10 games, 15 games. It’s not just three games. So I say, yeah, of course. And if we win, we are more happy. But it’s a long time to go for the season.

“We should look at the key elements behind every possible win. How to feel that, how to fulfil that, how to make them together to help the coach, the players to win the next game. That’s the key. It’s not about the results in the first three or whatever.

“But we still have got a win in front of the cup. Maybe we will have a good cup of run, you never know, right? So I think it’s also important.

“So yeah, you asked me about the question, I think maybe some fans will think about this, but that’s my honest view.”

Interviewer: “And how important was it to both refresh the squad but also make it a financially positive window for the club?”

Jeff: “Financially, I think it’s okay. I said it before, in the last two years, we are okay. We are not in a crisis or PSR, whatever, trying to avoid something bad.I think we are okay. We have quite the freedom.

“Of course, it’s nice maybe to have a squad and maybe all the players are committed and not too many players, they’re not playing for us, still with a high wage or whatever.So we try to streamline the squad a bit.

“But the focus of this window is not about finance, it’s about how to build a squad to compete in the league.”

Interviewer: “And you brought six new players in for that squad. How confident are you that the squad’s balanced and is competitive?”

Jeff: “I think the reality is that last season, some players had to go. So we had the task in our hands to try to sign players to fulfil the squad. So I think we signed six players and also three players coming back from injuries. So I think we have quite a new team. But I’m happy because all the players, they came and they were very committed to the team and Vito liked them all. So I think they will all play a key role in the squad for this season.”

Interviewer: “Yeah, you mentioned Vitor there. If we think back to the start of the summer, how open were the conversations between you and him?”

Jeff: “Very often, every one or two days, we spoke.We spoke and WhatsApp, message, phone calls a lot and sometimes in a pub, sometimes talking on the phone and sometimes just to knock his door to sit for five minutes to talk with him about some simple cause.

“For communications like this you have to talk very often because sometimes the window is like the time is tight and any misunderstanding or any late for something to do will be not good.So frequent conversation between me and the coach is so important.”

Interviewer: “And as the summer progressed, how closely did your plans align, yours and Vitor’s?”

Jeff: “I think for Vitor, you have to ask him. But for me, I think it’s not perfect but we finished the majority of the job and we have scored with the right size and the right commitment and I believe all the players are ready to go, to gear up, to fight for the season.”

Interviewer: “One of those players that left was Cunha. Was that always a plan that there would be big departures across the summer?”

Jeff: “I think for every player who has left, the club should have some consensus behind that. The departure of Cunha, of course, we liked the player and he was very important to us. But why we allow him to go is because from himself and from us and from the coach and from everyone, we have a consensus and maybe it’s the right timing to go. And we have a proper time to prepare for his departure. So then we wish him good luck in Man United. But I think all of the parties, all of the people around the club, we felt it’s the right thing to do at that moment. But of course, he did a good job for Wolves and I think Wolves will be a very important career step for him.”

Interviewer: “And when it came to planning, after how well Vitor did last season, how important was it to back him, both with staff and players?”

Jeff: “Of course I love Vitor, I told him a lot of times. I think he, of course, obviously he has done a great job after he came and it’s very important to give him a better chance this season to compete and not only try to save the bottom three situation, we want to compete at the right place in the table, in the league and in the club. It’s a very strong consensus and in the club we should back him strongly.

“Also, from my side, I feel Wolves need a kind of stability now and it’s not right to change the culture very often. I think just we have to have a culture to stay here, to help us for a longer time. And I think every culture needs time and every culture needs the jigsaws to be made, to be filled, whatever.

“So we should give the coach enough time and we should give him the players he needs to help prepare the season. So that’s what we try to do in the window.”

Interviewer: “Another player firstly on the left was Rayan Ait Nouri, given his experience, his output in the Premier League, is it possible that the club could have negotiated maybe a better deal given that Manchester City were in a rush before the Club World Cup?”

Jeff: “For Rayan, of course. We signed him five years ago, I remember. He was a very young boy and not playing too much. After two, three, four, five years, he became a very good player in the league. First, I want to say we are very happy about his growth. development. For his leaving, I think if we talk about the price, I think it’s the right price because he has two years left and he told us very clearly maybe it’s the timing for him to move on. He’s happy to stay. He said if the club wants him to stay, he will stay, but he will not sign a new contract. Then we checked the market, we checked the players’ intention, we checked what we should do for the club. And maybe I spoke with Vitor, maybe it’s the right choice to let him go at that moment. And of course, the price in the market depends on how many clubs came for him and his position about the benchmarks in the market and his age and how many years left in his country, whatever. So it’s this kind of objective benchmarking information will decide eventually the value in the market. So if we feel, for example, the price is not right, and we will keep him.

“So for example, just if we feel the price is more or less there, we will let him go. So that’s the general process behind the deal for Rayan and for that moment. But ultimately, Man City came for a price, and also based on our observation and judgment, maybe they will not give us a better price, but we felt the price was okay, and I think more or less reflecting the market value, and so we let him go. Of course, if the price is too low, whatever, we will not let him go. I think for Rayan, it’s a kind of typical respect both club and the players, but find the value in the market, and if we feel right, do it.If we don’t feel right, don’t do it.”

Interviewer: “And also earlier in the window, Tommy Doyle, Boubacar Traoré, both left. Is there any element of worry that the club are a little bit short in midfield with them departing?”

Jeff: “Yeah, Bouba and Tommy, they need game time.I remember, of course, I spoke with Vitor a lot about it and also spoke with Domenico and Matt. Bouba needs game time because he had some injuries in the last two or three seasons, not playing too much. I feel, or we feel, at this age, Bouba needs to play a lot. He likes to go to France, go to the club where he came from. I think it’s good for him to have a consistent time to play there. It’s important. Sometimes you can’t keep a player here, but not playing too much.

“For Tommy, it’s the same. I feel it’s the right timing for him to play a lot. And the coach has his view about how he shapes the squad or whatever. So we should cover what he wants to do. So for both sides, we feel it’s the right timing or decision to loan them. So for midfielder, of course, we talk a lot. And of course, if the only part, if we were very lucky in the window, we could have signed one. But on this part, maybe we miss a little bit luck in the window, because it’s not only about us. And also, Vitor has high demand on the quality of the middle field. It’s not like we signed someone for the sake of that. And also, we have coverage for that position, why we signed the creditor or whatever. So there are the coverages. So yeah, for the decision about the midfield, in the last two or three days, I spoke with Rita a lot, almost every hour.And eventually, it’s a mutual decision to maybe not sign one more midfield, but we keep the squad.We try to find the potential from the squad to cover that.”

Interviewer: “And a different situation is Nelson Semedo. Obviously he was offered a contract and took a while deciding. How did that delay maybe affect planning and affect replacing him?”

Jeff: “I think internally, we knew Nelson would leave, so of course, and to respect a captain who has been here for a long, long time, so we offered a new country to him, but even when we offered that, we knew 70%, whatever, he would leave, because it’s not only about the money, it’s about after five years, Nelson wanted to maybe to go another place with his family, maybe another environment to enjoy, whatever. So I think it’s very normal for a player, maybe not staying in a place for too long time. So we didn’t wait for Nelson to come back to us. Okay, whatever. No, I think we started to work, after we knew that, even since May. It was May or June we started to work to find the right backs. It’s just like that.”

Interviewer: “Matt Hobbs left the club, Domenico Teti came in. How did that change affect things here?”

Jeff: “I think the reason for the change is I feel it’s very important to have a team. with the chemistry and with the ability and with all the things maybe aligned to support the coach. So I’ve been involved for 10 years. I feel as long as the coach has the strong backing from the club and from every member of staff and the whole team, he will do a good job. And I just don’t want the team maybe some misunderstanding or misalignment or whatever. So I think the change behind that is I think it’s better to have a team. It’s not about personnel or about individuals. It’s about the team.

“And, of course, both Matt and Domenico, they are very good guys. They have the ability. But sometimes I think it’s about how we shape every member of staff together to support the first team. So that’s the reason behind that. When Dominik arrived, he did a good job and he talked with us every day in the building and helped with the first team, the signings, the new contract with the players, whatever. So he has settled in very quickly and I hope he can contribute to us more and more in the future.”

Interviewer: “How was the mechanism when it came to transfers involving yourself, Dominico, Jackson, Vitor and the recruitment team? How did they all work together, all the parties?”

Jeff: “It’s a teamwork. I think, of course, Vitor has the final say on players because all the players we signed are trying to support him. But he’s a coach, he doesn’t have time to search for all the players. We, as a team, together, we provide all the options, candidates, scouts, me, Matt, Domenico, Ben, Elliot, and all the people we search for the candidates to him. And he also, of course, has one or two assistants in his building to check all the players, then he will tell us, and this is good or not, whatever. And sometimes I will push him because I know you are so busy, but now is the time to make a decision to go or not.

“So sometimes I just try to call him at a late night or whatever to push. But we work very well, I think. The mechanism is try all the people have different roles, but we work together as a team to give Vitor the information and with the time limit and let him understand what time he should make a decision for what, whatever. So then eventually to give him the support and the results around all the signings.”

Interviewer: “How important is it to work that way and have the head coach absolutely sure of every signing?”

Jeff: “I believe in Wolves, I see the coach and it is important because he works with all the players every day. He knows the league, he is competing at the front line. So we should respect the coach’s view and to help him a lot to understand what he wants with our way and methodology. But the coach, the view, the judgment, the feedback is so crucial for the signings here.”

Interviewer: “When it comes to players that are coming in, how important is it to buy players that are ready to go in the Premier League, but then also maybe protect the club for the future?”

Jeff: “It’s the same. If you can play in the Premier League, we are protecting the club for the future. I think all the signings we made should be okay to play in the Premier League. Otherwise, if you need one year, why are we signing you? I think, of course, someone may need two weeks, someone may need two months, we never know. But for the Premier League, the first thing is to shape a squad to compete immediately in the league for the coming season. Of course, maybe The first two or three weeks, not there yet, but at least two or three months, and I think gradually, alongside with the development of the season, you have to, everyone has to be ready. Then it’s nice to have, if you have young players and they will grow more, whatever. So like Fer Lopez or whatever, they are young players. But they are young doesn’t mean they can’t play now, they can play now.But it’s a plus if you are young but you can play now, it’s a plus. But it’s not like we sign young players only for the next two or three years, never.”

Interviewer: “And the changes, I’ve seen a lot of Premier League experience leave the club and obviously none of the players that arrived have played in the Premier League yet. Was that a deliberate tactic, maybe to shop in different markets?”

Jeff: “I don’t think so. Of course, and maybe if you ask Matt, Domenico, Vito, they have their own views maybe in future. But if you ask me, I think, yeah, people may think someone who has played in the Premier League may be more quick to adapt to the league. But I have seen a lot of case studies, someone from other countries, they also be very quick to play very well. It depends about the player’s personality, profile, you know, and how suitable for our tactics and how much chemistry he can get from the coach or the teammates, whatever, elements will impact how fast or how effective he can be suiting for the team. We have a lot of players. To be honest, in the history of Worlds, we sign a lot of players from foreign countries. You know, the famous Ruben Neves from Portugal to the Championship directly, and people said, oh, it’s windy, raining every Tuesday, whatever, but they play well. So, depending on a lot of things, having played in the league is only one of them, not all of them.”

Interviewer: “And when it comes to replacing players, is there any sort of feeling that you could have moved a little bit earlier in the market, the club could have acted a little bit earlier in the summer to replace them?

Jeff: I think, yeah, of course, for everyone who has left, it’s a kind of plan in place, whatever. So I think in May or June, we already knew that. But for replacement or for new signings, it depends on the market. So I feel, of course, us and Vitor or the coaching team, we want to sign the best possible players to help us. But sometimes the best possible players means it’s not very easy to get. You have to convince the player, the agent, the selling club or whatever.And sometimes maybe three or four clubs will be talking with the player about where you will go. So the market is not only dictated by us. So that’s something we have to think about.

“And of course, we go to the market very early. In June, in July, we’re already in the market.And some players, they came early, like Fear, right? So Fer came very early. Some we waited. But the general process is like this.We always target the best possible player we can get.Until one day, we felt it’s impossible. Then we moved on to another target, maybe the second best possible, whatever.

“So that’s the strategy and the process.Because if we can sign all the best possibilities, why not? But that kind of process impacts a little bit the timeline. Some when you can get early, some when you can get late. Some best possible choice, maybe he chose to another club or he chose to stay.

“So we had some players they chose to stay, whatever. So that’s the reason it’s almost impossible to sign all the players you want at the beginning. as long as you want the best possible players to come to us. I think it’s not only a phenomenon for us, it’s for the whole league. Why the last day Sky Sports always talking about all that? Because almost every club they think the same. And also then the market is like defined by all the clubs in the world, so that’s the reality. But we are used to this, and we have been in the league for a long, long time, so we know how we do the thing, so some early, some late.

“So that’s the reason. Of course, from Vitor’s side, he always wants all the players in place before the first week in July. But we talk with him very often, maybe he was a little bit disappointed at them, but it’s the market, it’s not us to control that.But that’s our process and strategy and plan to do step by step. So finally, ultimately I can say, in the last day, maybe 90% we have finished our job.So that’s my feeling about this season. Why early? Why late?”

Interviewer: “If we focus on the six new arrivals that did join the club, how confident are you that they could be a success here at Wolves?”

Jeff: “I think we are very happy about the new players. I think they gave us a lot of new things. So I think it’s not fair or not right to compare always with the new players or with the old players. But when we talk about Cunha, when we talk about Pedro Netro or Ruben Neves, they used to be new players too. A long time ago or two years ago, mindset is always forget about the past and try to think about the current score now, how we approach the season, what the new players can provide us, and then we try to shape our team with the chemistry or whatever. So yeah, we are happy about all the players, I believe they can all bring something new to us and some of them may become star players, super players in a short time. But the most crucial thing is I feel and all the current squad players and they are very committed to the task and they are very united and tight-knit. So it gave us a very good foundation to embrace and approach the season with a very strong teamwork. So that’s even more important than individual players, one by one, how good they are, whatever. So that’s my feeling. So we have a very good environment for the first team at the moment.”

Interviewer: “And those players, they joined a squad which features Jorgen Strand-Larsen, who’s still at the club despite late bids in the window. How important was it to keep him here at Wolves?”

Jeff: “Yeah, I think Jorgen is one of the most important players in the squad. In last season, of course, but also in this season, for sure. And he can be better, of course. He scored 14 goals. I hope he can score 20 goals this season. So it’s very important to keep him here and also we had a very good conversation with him and I suppose after the window shuts and he will come back from small injuries and then he will be ready again and I am sure he will score a lot in the season with our support and the teamwork. Hopefully he can improve to be the top, top striker in the league and in the world and also to help the team to achieve something special in this season.”

Interviewer: “And was his sale never considered in this window?”

Jeff: “No, never, never considered to sell him in the window.”

Interviewer: “And how confident are you that he’s the right personality to move on and get back to business straight away?”

Jeff: “Jorgen is a very good boy. Maybe you know him, right? So a very good boy, very honest, and also very generous. He’s a team work for sure. So I have no doubt about him. And sometimes maybe The market, of course, every person has some chance to come in your career, but he is a boy, I believe 100% he will forget about that, then get up, then move on, then commit to the team immediately and after the window shuts.So, you will see him play and perform very well.”

Interviewer: “And one player that did move on, Fabio Silva, how do you reflect on that deal?”

Jeff: “Yeah, I love Fabio, of course. I love Fabio, but I think in reality and for different reasons, something we can control, something we can’t control, maybe after four or five years and it’s the right time for him to go to pursue the next step. And I’m very happy he had a good season in Spain in last season. He’s a good boy. And so we feel based on the score, I think maybe we have other choice to help Vitor to fulfil the score to compete. So maybe the chance has come for him to go. So it’s another agreement inside the club for everyone. So then, of course, Dortmund came to knock on the door and we talked about the sale, eventually we found the right price in the right way. So that’s it.”

Interviewer: “And you were pleased with how those negotiations went?”

Jeff: “Yeah, of course.”

Interviewer: “And obviously, we’ve mentioned them already, but Nelson Semedo, Sarabia, Cunha, Guedes, their money going off the wage bill. How healthy does that leave the squad and the club for the future?”

Jeff: “Yeah, like I said before, I think financial reasons are not key to our decision making, of course, and it’s a plus, but for every player, when they left, I think it’s more about sporting reasons and also about some kind of general consensus, the timing to go. So, then we look at the financials, it’s good or bad or whatever. So, all the players who have left, I think we have a kind of agreement with the coach and also the team members in the club. And we feel if we do well in the window, it’s a good chance to rebuild the squad and to evolve the squad. Maybe with some new things in the identity or shape and then through the process we try to measure them very, very well. We hope every player who has left, they will be happy in the next club, but also we have new players to come to fill their roles.So that’s generally about the sporting reasons behind that. Financial reasons, a small part of that, but not the main reason.”

Interviewer: “Just finally, speaking more broadly, as we go into Fosun’s 10th year here with Wolves, what are the short-term and long-term ambitions for the club?”

Jeff: “I think we want to compete. We want to compete in the league and we want to be strong. If we can go back to Europe again, then we want to, of course. Last season, Palace won the FA Cup and I think we should try to learn from them. Back in Europe and some cup trophies, maybe it’s what we should try to think about to play. Of course, the league is tough. It’s not like you want to do this and you will do it for sure for the season. But for the long term, for the short term, we should prepare something and to challenge that always. So that’s what we want to do.

“And I think it’s not right to say 10 years we were, because no one can predict the future of the club, especially on the sporting side.But our intention is to, for every window, every season, to prepare the squad, the coaching team, the management team, all the staff, to be ready to challenge that season for something special.This season is the same, just we try to do that.

“So, for example, Yeah, we won the first cup game, right? So beating West Ham.So for example, maybe it’s a small thing, but maybe it’s a big thing. You never know. So we want to keep strong in every line of the fight and to see where we can reach for the season.Maybe in the season we will do something even better than the history for Wolves. You never know, right?”