Nick Cruwys, 44, was attacked close to the ground and taken to hospital with head injuries, with his condition currently critical but stable.
Police confirmed on Tuesday that a 14-year-old had been arrested on suspicion of wounding, a day after an 18-year-old was arrested and later bailed.
Three other teenagers, two aged 18 and a 13-year-old, were also arrested and bailed last week pending further enquiries.
Detective inspector Toni Naylor, from Wolverhampton's Violent Crime Team, said in a statement: "Nick still remains in a critical but stable condition and his family remain by his side.
"Five arrests have now been made but our investigation is still very much ongoing and we are still appealing for information.
"Wolves FC have approached us and kindly offered to print an appeal in tonight's matchday programme where we will be urging fans to come forward with information."
