Wolverhampton Wanderers FC today announced that the club's academy has achieved Category One status.

The news means the club have been awarded the highest rating as part of the Premier League's new Elite Player Performance Plan. And the rating is for the maximum initial three-year period, putting the academy on a level footing as clubs such as Manchester City and Chelsea.

The Premier League are carrying out a stringent audit of academies to re-categorise clubs' youth operations, examining every detail on and off the pitch.

Landing Category One status means Wolves' academy facilities rank among the best in the land and that the club can scout young talent nationwide.

"It's fantastic news," said academy manager Kevin Thelwell.

"The most pleasing thing about the report is it was extremely supportive of the programme we have and the fact we won't be revisited for three years – the maximum timespan – is an indicator of the confidence the auditors have in us.

"Some clubs who have achieved Category One status will be reviewed again after a year to make sure the systems are where they should be."

Explaining what Category One status means, Thelwell said: "It's a statement to players and parents that our programme is one of the strongest in the country.

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"In the old academy system we were among the top 40 whereas now we'll be one of the top 20 clubs in the country. It also means a much stronger games programme against teams such as Manchester City, Chelsea and Fulham.

"It also allows us to recruit from further afield. We'll still be focusing a huge amount of our energies on the local area. But the potential to recruit from a national perspective provides us with additional opportunities to recruit the very best players."

Today's announcement coincides with the official opening of the new state-of-the-art 3G pitch at the club's Compton Park training ground which is primarily to be used by the club's younger players, all part of the £6m redevelopment of the academy facilities being funded by Wolves.