A proposal to expand the stadium to 37,000 seats has been on hold since the club was relegated from the top flight in 2012.

But with attendances on the rise and the club hopeful of a challenge for promotion this season, owners Fosun have tentatively got the ball rolling.

It may be that the original blueprint from 2010, masterminded by ex-owner Steve Morgan, could be changed.

Managing director Laurie Dalrymple told the Express & Star: “We’ve had initial discussions with the right people who could start to develop that conversation around what does it look like.

“The pleasing thing is we’re on the right lines and the right trajectory in order to get to developing Molineux.

“It may be about looking at something different (other than the 2010 plans).

“Given the time that’s elapsed – it’s not to say we’d rip up those plans – but I think we’d have to review and say ‘Is this still the best thing?’.

“It’s a completely different owner now – they may have a totally different perspective in terms of what to do with the stands, what to do with the whole Molineux footprint.

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“The biggest box to tick is promotion. That’s when we can really start talking about it.”

The Stan Cullis stand was redeveloped at a cost of £18m but proposals to rebuild the Steve Bull stand and the Sir Jack Hayward stand haven’t come to fruition. Dalrymple added: “One of the reassurances fans want is around the South Bank, they want it as a single tier, which is clearly something we’d want to ensure, that we fulfil their requirements and wishes.

“And it’s also important to retain some of the existing really important features of the ground.

“It’s about engaging people at the moment to say, ‘The plans that were drawn up six or seven years ago, are they still fit for purpose and does it give us the numbers we think are appropriate?’.

“Going from 31,000 to 40,000, is that the right ambition? Is it too much or should we be aiming higher?

“The conversations are well under way and the pleasing thing is the audiences we’re driving to the ground now – based on this season’s performances so far – give us real comfort that the process of development would be something that would follow fairly quickly off the back of (promotion).”