However, the Club has expressed caution that the plans revealed today are just the start of a long and challenging journey, with the timings of any stage of the development, in particular, subject to change.

The design depicts a 21st Century Molineux with timeless appeal that respects the Club's heritage whilst also including sympathetic detail of the Club's famous old gold and black colours. The drawings show iconic masts as part of the roof design and attractive elevations with internal stairwells exposed to the outside to create a sense of movement as fans enter and leave the stadium. 

The plans, which are subject to Local Authority approval and show phases 1 through 3 only, were on public display for the first time at last night's Resident's Consultation meeting. As part of a carefully planned communications programme, Wolves have also briefed the fans' group, the Wolves Fans' Parliament, Wolverhampton City Councillors, staff and the media.

What is the Plan?

Phase 1 is scheduled to begin with the demolition of the Stan Cullis (North) Stand at the end of the 2010 / 11 season. A two-tier stand that extends into the north east open corner will be constructed, complete with a new Club Megastore, Museum, Café, a Family Information Centre, impressive pitch facing hospitality facilities (including a 500 plus capacity room, which can be adapted for different events) and a big video screen mounted on the underside of the roof.

The concourse areas have been designed to improve supporters' comfort in the stand at the peak times of pre-match and half-time. On average, each individual fan will have double the amount of space around them compared to the current experience in concourse areas.

There will be a new disabled supporters' lounge and dedicated disabled supporter platforms at all levels, and in all new stands, with dedicated access and lifts. Away fans will be located in the north east corner quadrant between the new Stan Cullis (North) and Steve Bull (East) Stands. This away facility will be created as part of the Phase 1 development and will result in improved segregation that will no longer see home supporters sitting above away fans or vice versa. 

Phase 2 will see the Steve Bull (East) Stand being rebuilt over a two-season period (2012/13 and 2013/14), scheduled to be ready for the start of the 2014/15 season. However, it is hoped a significant number of seats will be released during the 2013/14 season for home supporters. When this is finished the capacity will be 36,000.

The new stand will feature no fewer than 42 corporate boxes and will include a 600-plus capacity banqueting hall and seminar rooms, which will be available for hire as the Club strives to increase its successful non-matchday conference and banqueting business.

As part of Phases 3 & 4, and subject to supporter demand, the Jack Harris (South) Stand will probably be the last stand to be addressed in the planned redevelopment, with a new top-tier being added and seamlessly joined to the Steve Bull (East) Stand.  Along with the Stan Cullis (North) Stand, it will also feature a big video screen mounted on the underside of the roof.  This will see capacity grow to about 38,000.  However, plans have also been drafted to confirm that the Club could increase capacity to approximately 50,000 by completely redeveloping the Billy Wright (West) main stand - although the Club will seek planning permission for phases 1 through 3 initially.

During the rebuilding of Molineux its capacity will be significantly reduced. Wolves are currently working on the ticketing arrangements during this period, with details to be announced early in the New Year, in plenty of time for the start of the following season.

The priority, as always, will be towards Season Ticket Holders, the Club's most loyal supporters. Disruption and change during the construction period is inevitable but, over the coming months, the Club will be working hard on plans to keep this to a minimum.

During Phase 2, the intention is that Steve Bull (East) box holders will be temporarily relocated to the brand new and pitch facing hospitality facilities in the Stan Cullis (North) Stand (the first time such facilities have been offered behind the goal at Molineux), whilst construction is taking place.  These facilities will also be used on non-matchdays.

Based on the above, supporters are asked not to contact the Ticket Office. There is no further information available at the present time.

Jez Moxey, Chief Executive, Wolves, said: "These plans represent an exciting vision for the redevelopment of Molineux, which our Chairman Steve Morgan had when he first acquired the Club in 2007. His commitment to Wolves and his investment into all aspects of the Club has helped us develop both on and off the field, culminating in the team retaining its Premier League status for the coming season.

"Redeveloping Molineux will vastly improve supporters' facilities and provide a significant boost to the local economy at a time when the country is attempting to come out of a painful recession. And importantly, 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 when playing at Molineux.

"However, at the same time we need to set expectations. We intend to manage our plans in the same way we run our Club - namely in a very sensible and commercially sound way but stadium redevelopment plans will not affect our plans to continue to invest in the team.  We must get this balancing act right if we are to be successful in the medium to long term.

"Today's announcement is the start of a long and challenging journey, which means the shape of our plans may change over time.  We hope to submit a detailed planning application this summer for redeveloping the Stan Cullis Stand and we have the funds necessary to build it without borrowing any money.  When that's finished, we'll move onto the Steve Bull Stand before considering our next move.

"The phasing of our plans ensures we mitigate any impact on business as usual and strike the right balance in terms of managing the short and long-term development of the Club, both on and off the pitch.  This is necessary because neither we, nor the fans, would want us to move away from Molineux during construction.

"We have already spent time consulting with our stakeholders and I'd like to thank Wolverhampton City Council for their continued help and support, specifically in agreeing to grant the Club a 999 year lease, which is a vital element in our development plans.

"I'd also like to thank our local residents for attending the consultation meeting, as well as the Fans' Parliament for their feedback, which, as always, will help to shape our thoughts going forward."