Fans say they are devastated after Wolves' relegation from the Premier League was confirmed on Monday, after weeks stuck at the bottom of the division.
West Ham's draw at Crystal Palace on Monday confirmed their eight-year stay in the league was over.
Rob Edwards' side picked up just 17 points from their 33 matches with five games still left to play.
"We know this season has tested your loyalty and patience. Your backing, home and away, has not been taken for granted," newly appointed chief executive Nathan Shi told supporters.
Next season, Wolves will play in the Championship for the first time since 2018 and fans in the city centre told BBC Radio WM they have lost confidence in the club.
Wyatt Bennett said: "I was absolutely gutted. It's a result of such poor ownership, the club has been neglected badly.
"It started to go downhill after Covid, we started to sell a lot of our star players and things started to go a bit pear-shaped.
"The relegation sums up the season pretty well."
Lee Tyler added: "It's a let down for the town, and for the fans. We knew it was coming. The club has been difficultly run for quite a while. Direction, multiple managers and it hasn't helped the situation in general.
"For next season, I'm worried because major players are going to go, then it's a major rebuild."
Another fan said relegation had been "coming for years" and "it's years of selling our best players and not getting the right players in and not backing the managers".
They added: "I still have faith in Rob Edwards, I think he is a good manager, I don't think he has been backed enough. Give him a year in the Championship and see how he does.
Another fan, James, added: "I thought the writing was on the wall, the structure of the team looked off, they weren't playing collectively any more.
"I'm slightly concerned for next season; we need a complete clear out now, the squad is falling apart and it's blank canvas time."
Last month, Wolves reported a loss of £15.3m for their previous season in their accounts.
Shi said: "Confirmation of our relegation is a difficult moment for everyone connected to Wolves.
"While this is a deeply disappointing outcome, work has been underway since my arrival in December to ensure we are ready to respond with clarity and conviction.
"We are clear on what needs to improve and our focus is now on strengthening the club, building momentum and creating a team our supporters can believe in. We know what is required and will approach the months ahead with purpose.
"You deserve better and giving you a club you can genuinely be proud of is what drives everything we do from this point forward."
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