Wolves chief Jez Moxey says they will try to spend wisely in the summer market.

Moxey told the Birmingham Mail: "If you get it wrong, it can be a brutal business - we know that ourselves, having got relegated when we first went up six years ago.

"Newcastle's situation proves more than anything is that it doesn't matter how much money you throw at things, you can still go down.

"You can throw the kitchen sink at it and still get it wrong.

"Middlesbrough have spent a lot of money too - Afonso Alves cost them £13million and they have gone down and that just shows the enormity of the task we've got.

"But it's not just about money, it's about a whole lot of other factors."