The John Ireland Stand ( renamed as The Steve Bull Stand in 2003 ) , completed in 1979 , had cost £ 2.5 million ( £ 13,675,000 in 2018 prices ) and had been one of the most expensive developments at any football ground in the U.K . The cost of the stand 's construction plunged Wolves deep into debt and the club narrowly avoided liquidation in 1982 , when it was taken over by a group fronted by former player Derek Dougan . By the time Wolves slid into the Football League Fourth Division in 1986 , the John Ireland Stand and the South Bank terrace were the only sections of the ground in use , after new safety laws implemented following the Bradford City stadium fire forced the closure of the North Bank and Waterloo Road Stand , which had become very dilapidated . Additionally , attendances had fallen due to the club 's on-the-field decline
Bradford City stadium fire
Bradford City stadium fire
Molineux Stadium