Wolverhampton Wanderers chief executive Jez Moxey has suggested that it will take time for the club to secure the right person to replace outgoing owner Steve Morgan.

The Championship outfit have been up for sale since September and with no deal looking imminent, Moxey has warned supporters not to expect the club to change hands in the near future.

Moxey told BBC WM: "We don't just want to sell to anybody. Many of our older fans remember when this club nearly went out of business. We don't want a return to those days.

"Despite what many people think, there are not many people around with tens of millions that want to buy a football club. So many clubs are up for sale. So few get sold.

"It requires someone, who will continue to run the club in a sensible, positive way without risking its future. This is a very precious, national sporting institution that stands for so many positive things, with its fantastic history and what it means to the people."

Head coach Kenny Jackett has insisted that the club have still been able to identify transfer targets for the summer despite the uncertainty surrounding the Molineux outfit.