It enjoyed prominence in the 1950s under manager Stan Cullis, winning the first division championship three times and winning the F.A. Cup twice. The club was described by some as the greatest football team in the world after beating the Hungarian side Ferencvaros 3-2 after being 2-0 down at half time. Players in the team included Billy Wright (OBE) who was the first footballer to win over a hundred international caps and captained the England team over 90 times.
The club went through a bad spell in the 1980s, being relegated to the Fourth Division and almost going bankrupt. More recently the club was bought by Sir Jack Hayward and is enjoying better times. This general improvement culminated in manager Dave Jones taking the club through the First Division play-offs, into the Premiership for the first time, in 2003.
The club, got off to a disastrous start in the 2003/4 season, playing for 2 months without a single win, and the club's chairman, Sir Jack Hayward, announced he would give the club away, for free, to an appropriate investor, writing off £40 million in the process.
The club are commonly known as Wolves; the club logo features a wolf head.
The club's fierce local rivals are West Bromwich Albion, "shit on the Albion" being a common chant for Wolves fans, regardless of the occasion.