Wolves boss Nuno Espirito Santo said the new improved contracts for him and his coaching staff reflected the confidence the Premier League new boys have placed in their long-term project.
The 44-year-old Portuguese manager -- whose one-year contract extension sees him tied to the club until 2021 -- guided Wolves to promotion in his first season in charge as they eased to the second tier Championship title.
The former Porto handler told the club website the new contracts gave then the time required to build something more substantial at the historic club and make them an established Premier League presence.
Despite their rich history, the last of the club's three league titles came in 1959 and the 1980 League Cup is the last major trophy they lifted.
"I am very thankful because of the trust and the confidence that the club puts in us as a technical team," Nuno told wolves.co.uk.
"My team really work as a team. First of all we are friends, we respect each other, we admire each other and we work for the same goal.
"That goal is to find every detail we can to help the team to perform well, compete well, and fortunately win.
"We knew that the project required time and now we have three years ahead of us of contract, and we are very, very thankful and delighted to be here."
Nuno, who also had a season in charge of Spanish La Liga outfit Valencia, has strengthened the squad with Portuguese international first choice goalkeeper Rui Patricio and forward Raul Jimenez.
However, Nuno wants to make further additions to a squad, several of whom have committed themselves to the club after playing influential roles in the promotion run including Ruben Neves signing a new five-year contract.
"When we came (to Wolves) there was a big challenge in front of us," said Nuno, who was a goalkeeper in his playing days and was a member of the Porto squad that won the 2004 Champions League trophy.
"So we started with the ambition to have a team that could compete in every game and create an identity.
"We did it, and we achieved what we wanted. We have a team, and we are in the Premier League, and we are now in year two. In year two we know the challenge is even more difficult.
"We will increase the quality. When you speak about increasing the quality, of course the squad is going to change."
Nuno Espirito Santo is set on establishing Wolverhampton Wanderers as a Premier League force after being given a new improved three year contract as a reward for securing their promotion in his first season in charge