In September 2015, Morgan stepped down from the board and announced the club was for sale. In July 2016, it was confirmed that the Chinese company Fosun International had bought the parent company of the club, W.W. (1990) Limited, from Steve and Ross James Morgan (25% share capital in total) and his company Bridgemere UK plc (75% share capital) for an estimated £30 million. Morgan later revealed in an interview that he had turned down other offers for the club but had accepted Fosun's offer because of the company's commitment to invest £100m into the club. Morgan signed off with an open letter to Wolves fans in which he described his time owning the club as "an honour and a privilege that I will never forget".