Wolverhampton Wanderers is planning to spend 40 million pounds ($58.4 million) on increasing the capacity of its Molineux stadium to help it cement a place as a Premier League regular.
Wolves said Friday that they hope to increase the number of seats in their 121-year-old stadium from 29,303 to 36,000 in time for the 2014-15 season.
The most recent redevelopment was only 20 years ago, but improved facilities and extra seats would bring in extra revenue that should allow the team to invest in transfers and attract higher-caliber players with better wages.
Wolves are in the Premier League but have spent only two of the past 26 years in the topflight.
The development, which includes the replacement of two of the four stands, would reduce the distance between the stands along the length of the field and the touchline for which Molineux is notable.
``By bringing fans much closer to the pitch they will not only get the most fantastic view of the football action but it will also dramatically boost the atmosphere which, we hope, will give the team a true home advantage,'' chief executive Jez Moxey said.
The four stands will be left at the same height and the corners between them will be filled in to create a bowl.
The last redevelopment cost 20 million pounds ($29.3 million).
