Wolves boss Julen Lopetegui says fans must know the limitations of their transfer budget.

Lopetegui concedes the financial goal posts have moved since he took the job last season.

He told the Guillem Balague podcast: "When I signed for Wolves in November 2022, with the team in decline, I took on the challenge and the risk because the idea was always to reinforce the team if we managed to save them.

"We did it with several days to go. In May I insisted to the club's owners on the need for new signings to be able to compete this season. The bad news is that the club does not seem to be in a position to invest in improving the squad.

"Not only have we not reinforced, but the club has sold several important players, which puts us in a weak situation compared to the rest of the Premier teams. We need to sign to be competitive.

"We also have to be honest with the fans. They deserve to know the situation of the team, because we are going to need them more than ever. My job as a coach is to be responsible and communicate what I feel is best for this team.

"Unfortunately, we haven't been able to develop our Plan A and I feel like we haven't been able to develop a Plan B either. Our goal now is to adapt to this situation, give our best and get the best out of this squad."