Law firm Squire Patton Boggs has confirmed that Chinese conglomerate Fosun International have completed their takeover of Wolverhampton Wanderers.

The lawyers have been working on behalf of Steve Morgan in negotiating the sale, having previously managed Aston Villa's takeover by another Chinese investment company, Recon Group.

"We are delighted to act once again for a leading, and historic, football club on a major cross-border investment," said David Hull, partner at Squire Patton Boggs.

"We have been seeing continued and unprecedented interest in English football among overseas buyers, particularly from Asia-Pacific where the sport is expanding at an exciting pace."

The takeover - believed to be for a price tag of £45m - is yet to be officially confirmed by Wolves, although an announcement is expected later today with a press conference following on Friday.

Following the takeover, speculation had suggested that manager Kenny Jackett would be replaced by ex-Porto boss Julen Lopetegui, although he has since been unveiled as the new manager of the Spain national side.