Wolves have moved quickly to appoint Gary O’Neil as their new manager following the shock departure of Julen Lopetegui – with the new Premier League season just days away.
O’Neil, 40, led Bournemouth to a comfortable survival last season after replacing Scott Parker early in the campaign, yet – to the surprise of many – he was moved on in June in favour of Spanish coach Andoni Iraola.
And now O’Neill is back managing a Premier League club again, although he’ll only have five days to prepare his side for their curtain-raiser against Manchester United at Old Trafford.
His swift appointment comes after Lopetegui left the club on Tuesday evening after his relationship with the board had soured as a result of disagreements over transfer policy.
The Spaniard had two years to run on a lucrative contract that made him the highest-paid manager in the club’s history. Lopetegui kept Wolves up last season after joining in November when they were bottom of the table.
![Wolves have appointed former Bournemouth boss Gary O'Neill as their new manager](https://i.dailymail.co.uk/1s/2023/08/09/15/74117645-12388389-Wolves_have_appointed_former_Bournemouth_boss_Gary_O_Neill_as_th-a-3_1691589783602.jpg)
Wolves have appointed former Bournemouth boss Gary O’Neill as their new manager
![Julen Loptegui departed Wolves on Tuesday night after discussions with the club](https://i.dailymail.co.uk/1s/2023/08/09/15/74097949-12388389-Julen_Loptegui_departed_Wolves_on_Tuesday_night_after_discussion-a-4_1691589783602.jpg)
Julen Loptegui departed Wolves on Tuesday night after discussions with the club
In preparation for Lopetegui’s potential departure, Wolves had been considering possible successors for some time and O’Neil topped the list.
Wolves would not have to pay compensation for O’Neil and he would cost substantially less than Lopetegui, who was the highest-paid manager in the club’s history.
O’Neil enhanced his reputation by keeping Bournemouth in the top flight comfortably last season, after taking over from Scott Parker early in the campaign.
He was replaced by Iraola but his stock remained high among a number of Premier League clubs.
Wolves chairman Jeff Shi wrote an open letter on the club website last week, explaining the need to meet Financial Fair Play requirements.
Shi wrote: ‘As the owners and management of the club, one important thing we must learn and follow is the Premier League’s rules on profit and sustainability (formerly called financial fair play or abbreviated to FFP).
‘Before the end of 2023-24 season there will be an annual test and we are going to make sure we pass it, as we have done in the last five seasons.’
![O'Neil was moved on at Bournemouth despite a strong season in charge of the Cherries](https://i.dailymail.co.uk/1s/2023/08/09/15/74097955-12388389-O_Neil_was_moved_on_at_Bournemouth_despite_a_strong_season_in_ch-a-2_1691589783601.jpg)
O’Neil was moved on at Bournemouth despite a strong season in charge of the Cherries
![Wolves chief Jeff Shi wrote an open letter explaining the club's need to meet FFP regulations](https://i.dailymail.co.uk/1s/2023/08/09/15/74098475-12388389-Wolves_chief_Jeff_Shi_wrote_an_open_letter_explaining_the_club_s-a-1_1691589783599.jpg)
Wolves chief Jeff Shi wrote an open letter explaining the club’s need to meet FFP regulations
To hit that target, Wolves have recouped £91million in player sales this summer, including the £47m departure of captain Ruben Neves to Saudi Pro League club Al-Hilal.
They have added only defender Matt Doherty and goalkeeper Tom King on free transfers, leading to Lopetegui’s anger.
Wolves counter that they backed Lopetegui heavily last January, sanctioning deals worth up to £77m, after also committing more than £120m in fees 12 months ago.