The executive chairman claims the club completed around “90 per cent” of the business head coach Victor Pereira desired, during a summer which saw six new players arrive and several senior stars depart.
Pereira’s team currently sit bottom of the Premier League having lost their first three fixtures but Shi is confident they will improve.
During a wide-ranging interview with the club’s own media channel in which he discussed a number of topics, Shi explained:
How he spoke to Vitor Pereira almost every day of the window, including sometimes in the pub, with the head coach always having the final say on transfers.
His confidence in the club’s new signings to deliver, despite their lack of Premier League experience
The reasons behind the management restructure which saw the departure of sporting director Matt Hobbs and arrival of director of football Domenico Teti.
Why Jorgen Strand Larsen was never for sale and his confidence in the striker refocusing after missing out on a move to Newcastle.
Why he believes Wolves got the “right price” when they sold Rayan Ait-Nouri to Manchester City for an initial £31million.
The latter deal, for a fee which Shi thinks was the wideman’s market value, contributed to Wolves making a net profit in the window of around £20m.
Matheus Cunha was the biggest outgoing, commanding a fee of £62.5m when Manchester United triggered his release clause.
But Shi says the main purpose of the club’s business was not about turning a profit but building a squad capable of competing in the league.
Wolves' Rayan Ait-Nouri
Wolves' Rayan Ait-Nouri
He explained: “I think it was a good window. The key purpose of the window is to help the coach.
“We spoke with Vitor almost every day, even when he was on holiday in Portugal.
“We tried to build a squad based on his philosophy and how he wanted to adapt to the league.
“Of course it is not 100 per cent in terms of fulfilling all the signings he wanted but I think 90 per cent we are there to help him.”
One area Wolves missed out was in midfield, with Shi admitting they would have strengthened further in that area had they been “luckier” in the market.
He insisted there were no regrets over the decision to loan out both Boubacar Traore and Tommy Doyle earlier in the window, despite that leaving only Andre and Joao Gomes as recognised central midfielders.
New signing Ladislav Krejci, primarily a defender, will be asked to deputise when required.
Shi said: “Vitor has high demands on the quality. It is not like we signed someone for the sake of it.
“We do have cover for the position. It is why we signed Krejci, they are the coverage.
“In the last two or three days (of the window) I spoke with Vitor a lot, almost every hour.
“Eventually, it is a mutual decision to maybe not sign a midfielder. We try to find the potential from the squad to cover that.”
Shi believes Krejci, along with fellow signings Fer Lopez, David Moller Wolfe, Jhon Arias, Jackson Tchatchoua and Tolu Arokodare, all have the potential to be big players for Wolves.
None has prior experience of playing in the Premier League but Shi does not see that as necessarily important, pointing to the example of Ruben Neves as a player who quickly adapted to the English game.
“I think all the signings we made should be OK to play in the Premier League,” he said. “If you need one year (to adapt), why are we signing you?
“Of course, some of them may need two weeks, some of them may need two months, we never know.
“But for the Premier League, the first thing is to shape a squad to compete immediately in the league for the coming season.
“Of course, maybe the first two or three weeks (they) are not there yet but the first two or three months I think gradually, with the development of the season, everyone has to be ready.”
Jhon Arias (Photo by Jack Thomas/Getty Images)
Jhon Arias (Photo by Jack Thomas/Getty Images)
Shi continued: “If you ask me, I think people may think players who have played in the Premier League are quicker to adapt but I have seen a lot of case studies with players from other countries who have been quick to play very well.
“It depends on a lot of things. Having played in the league before is only one of them, not all of them, in my view.”
Shi described Wolves’ approach to the window as “team work” and revealed he too was involved in the search for players along with the club’s scouts, Teti and Matt Jackson.
The latter was appointed director of player recruitment and development in the shake-up which saw former transfer chief Hobbs depart in June.
Shi said the restructure was designed to ensure everything was aligned behind Pereira, who has the final say on every signing.
“We work very well, I think,” he said. “The mechanism sees all the people have different roles but we work together to try and give Vitor the information, the time limit and let him know what time he should make a decision (on a player).
“We work to give him support and results around every signing.”
Shi said there was a “consensus” at the club Pereira should be backed strongly after his impressive job digging the team out of relegation trouble last season.
He continued: “Every one or two days I spoke (with Pereira), whether it be WhatsApp, Messenger, phone calls, sometimes in the pub.
“Sometimes I would knock on his door to sit with him and talk for five minutes. You have to talk like this because in the window time is tight and any misunderstanding, anything late will not be good. Frequent conversations with the coach are important.”
Wolves striker Jorgen Strand Larsen
Newcastle have had a offer rejected by Wolves for striker Jorgen Strand Larsen (Mike Egerton/PA)
Among the biggest storylines of the window was a deal Wolves didn’t do, after turning down two bids from Newcastle for Strand Larsen, the latter worth around £55m.
That was despite the Norway international telling the club he was keen on the move to the Magpies.
Shi now says selling the 25-year-old was never an option and expressed confidence any disappointment at missing out on a move won’t impact his performances.
He said: “It was never considered to sell him in this window.
“Jorgen is a very good boy, very honest and generous. He is a team worker, for sure.
“I have no doubt about him and maybe sometimes the market, of course every person has some chance to come in your career.
“But I believe 100 per cent he will forget about that, will get up and move and commit to the team. You will see him perform very well.”
Shi also expects the same from Wolves as a team once the new signings have found their feet.
He continued: “If we had won more games I would be more happy but it is just the start of the season.
“One of the reasons is we had a big change in the squad. We need a little more time to shape the squad and shape something new, something more strong and to help the coach.
“I think that is maybe one of the reasons impacting us in the first three games but it is a long, long season.
“It’s 38 games and I think the more important thing to define this season is the squad, the coach and the team, the chemistry, the unity and hard work.
“If you have that foundation, you will have a strong season, no doubt about it.”