Wolves chief executive Jez Moxey admits they're disappointed over the sale of midfielder Mark Davies to Bolton Wanderers.

"We're very, very sorry to see him go," he told Wolves World on the club's official website. "Many people said 'eyebrows were raised', well, as the eyebrows were raised my heart sank when the deal was finally done because we didn't want Mark to go.

"It was a collision of circumstance, he'd been injured on and off for about two-and-a-half years. We've nurtured him since he was knee high to a grasshopper so we've known what a talent he is. He finally got fit enough to go on loan and went to Leicester.

"We started watching him and thought 'he's fit enough now so we need to offer him a new contract'. So we did and almost immediately he sent in a written transfer request. I had meetings with him, spoke to his father and at the same time he was approached by Bolton Wanderers, turned his head and he made it absolutely abundantly clear that he wasn't going to play for Wolverhampton Wanderers again and he needed to move on.

"We've got a huge seven figure sum in terms of transfer fee, we've got extra money as he plays and also a very large sell on - so I think we're protected but a real disappointment."