Newly promoted Wolves are promising there will be no limit to their ambition when they return to the Premier League next season.
Wolves have been out of the top flight since 2012.
League champions on three occasions, they have finished in the top 10 of the English league once since 1973.
“This is just the first step. We have a long-term plan and we have to fulfil that step by step,” chairman Jeff Shi said.
Wolves won promotion with four games to spare after Fulham were held by Brentford at Craven Cottage on Saturday.
One point from their final three matches will be enough for them to win the title just under two years after their Chinese owners, Fosun International, bought the club from Steve Morgan for £30m.
There is incredulity at Molineux that star man Ruben Neves failed to win the Championship player of the year at the EFL awards dinner on Sunday night.
But the former Porto captain’s presence at Wolves is an indication of the club’s intended future direction and they have no intention of losing him.
“We are going into the Premier League to compete and compete hard,” said Laurie Dalrymple, the club’s managing director.
“We don’t just want to be one of the 20 teams that is there to make up the numbers. There shouldn’t be any limits to what we can achieve as a club.
“If we want that mindset we need to keep our very best players.”