While West Bromwich Albion continue to find themselves in a precarious financial situation, there is hope a takeover will ease the fears looming over the club.
Guochuan Lai’s tenure since becoming majority shareholder from Jeremy Peace back in 2016 has been nothing short of disastrous, with the Baggies suffering two relegations from the Premier League and currently experiencing their longest spell outside the top flight in the 21st Century.
After taking out a £20 million loan from MSD Holdings, the Baggies have had to prioritise outgoings in the summer transfer window, with nine departing The Hawthorns in order to balance the books.
Positivity remains on the pitch however, with Albion currently finding themselves in the top six under Carlos Corberan despite the playing squad being ravaged with injuries, with the former Huddersfield Town boss doing a stellar job since being appointed into the Albion hotseat last October.
With the thread-bare squad recording a 2-0 win over strugglers QPR in midweek, they continue to maintain consistency as they aim to mount a promotion charge back to the Premier League at the third time of asking.
The Black Country outfit will hope a completed takeover will come at the beginning of the new year, with reports suggesting Albion may be forced into a fire sale of their most valuable assets should a deal not be struck.
Here at Football League World, we bring you the latest updates surrounding WBA’s takeover bid.
What is the latest news on West Brom’s takeover?
It was reported last month by John Percy from The Telegraph that parties from the Middle East and USA were in talks with WBA over buying a stake in the club.
It is understood that initial talks had been held over a £50million takeover being completed before the end of the year with interest emerging from the Middle East and North America, with WBA Group director Xu Ke leading the sale process.
Since that time, West Brom reported in the last couple of weeks via a Fans’ Forum that managing director Mark Miles had confirmed NDA’s had been signed with prospective takeover groups, which meant details could not be shared.
Miles though revealed they are looking to agree a takeover by no later than the end of the 2023/24 season, which will frustrate supporters that a prospective deal has been pushed back.
In more recent developments, Dan Plumley, an expert in the football financial industry, has said that Albion could now invite interested parties to submit their official offers to the club following the signing of NDA’s, which would give the hierarchy a chance to assess each bid to see which one is the right fit.
Speaking to West Brom News Plumley said: “It depends on how the selling club in this instance are approaching these things.
“You can get to a situation whereby you could look at asking everyone to make a bid and then you look through it, you could look at one particular party taking a front runner and looking at an exclusivity period, it does work in a number of ways.
“I think from a selling club point of view, what you absolutely want to make sure, is that the people and the interested parties, whoever they are, have got the necessary funds and the financial ability to enact a takeover, but to take the club forward too.”
When is the West Brom takeover likely to happen?
It is difficult to put an exact timeframe on when this deal will be concluded and who with, but Miles’ statement about a completion by the end of the season is a welcome boost after much darkness clouding The Hawthorns during the last seven years.
With NDA’s in place, it can be taken as a sign that positive momentum is being built regarding a takeover completion, but patience must be provided by the supporters so the club can be in a healthy financial state for the long-term.
With Corberan at the helm, stability is provided on the pitch regardless of the circumstances, but it is now up to the people at the top of the club to secure the future of one of the founding members of the Football League sooner rather than later.
