The wife of Wolves owner Guo Guangchan has bought out Switzerland's Grasshoppers.
Hong Kong-based Jenny Wang has bought 90 per cent of shares in the Swiss club.
Grasshoppers is the oldest and most successful club in Switzerland with 27 championships and 19 cup trophies, but last season the club dropped out of the top-flight.
With Wang's takeover, Wolves will have an influence on the board.
Bernard Schiteman will become sporting director and Sky Sun is to be president.