WOLVES manager Mark McGhee is coming under increased pressure after a stinging attack from club owner Jack Hayward.

Hayward is furious that Wolves have failed yet again to clinch a place in the Premiership and confirmed that the days of him pumping millions of pounds into the club are over.

But the 74-year-old multi-millionaire, who has spent £40 million on players and redeveloping the stadium in the last seven years, said he is going to take an even bigger interest after claiming the club is "sloppily run."

Hayward blew his top after Crystal Palace's 4-3 aggregate win over Wolves in the promotion play-off semi-final doomed the Molineux outfit to another season in the first division.

Hayward said: "Am I satisfied with what Mark McGhee has done so far? No. We finished third which a lot of teams would love but we're not an ordinary team.

"We are Wolverhampton Wanderers and we have got to be up there with the Manchester Uniteds, Liverpools and Arsenals of the footballing world. We can't live where we are.

"I'm not happy with Mark McGhee because he hasn't got us into the Premier League and he hasn't got us to the FA Cup final.

"He said it was a blessing in disguise when we got knocked out of the FA Cup in the third round. I don't see it that way, to be knocked out of a cup by Portsmouth who made £800,000 from their run and loads of publicity.

"No manager is successful unless he gets this club and team into the Premiership where we belong, especially with the facilities we have here.

Hayward skirted around the issue of McGhee's immediate future he has two years left of his contract - and he is likely to be given at least the early part of next season to see how the team's fortunes fare.

But when asked what the response would be if McGhee came asking for money for players this summer, Hayward said: "We will tell him find it."

"Wolves are not going out of existence because of me and hopefully I'm not going out of existence but someone else has got to take them in hand and grab them by the scruff of the neck.

"I know these are harsh words and I am normally supportive but I've come to the end of my tether.

"I'm still going to retain an interest, in fact a bigger interest. I think I've got to. We've got to have new management behind the scenes because it's a sloppily run club."