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Molineux still has a concert licence. However, you are looking at the bigger acts to fill it and there is little enticement to use a 30k-40k gig including general standing in Wolverhampton when many big acts are doing Wembley, Etihad, Anfield. Everton want concerts at their new stadium but Anfield will have way more pull. Similarly, Villa Park has a concert licence 15 miles down the road with bigger capacity.
 
Molineux still has a concert licence. However, you are looking at the bigger acts to fill it and there is little enticement to use a 30k-40k gig including general standing in Wolverhampton when many big acts are doing Wembley, Etihad, Anfield. Everton want concerts at their new stadium but Anfield will have way more pull. Similarly, Villa Park has a concert licence 15 miles down the road with bigger capacity.

Coventry get their fair share too. Similar sized stadium but vastly better facilities. I've seen about 5/6 different acts there over the years.
 
Anecdotally a lot of those 2nd or 3rd tier events seem to happen during the Summer in large outdoor spaces rather than stadiums these days. Trentham Gardens, Cannock Chase or Markeaton Park as examples in the Midlands
 
Coventry get their fair share too. Similar sized stadium but vastly better facilities. I've seen about 5/6 different acts there over the years.
Saw the Boss there a few years back, I was impressed with the ease of getting to the gig. Very good facilities.
 
The Wolves Racecourse has concerts as well.

Few years back went to see Madness there. For me, dreadful venue for a concert.

Was Rod Stewart the last gig at Molineux?
 
Plus there is the stately home up near Alrewas that holds a five day festival for Bloodstock. Easily holds 30k plus.
 
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