Talks are beginning to grow louder that a West Bromwich Albion takeover might be concluded in the not-so-distant future.
Guochuan Lai’s tenure as controlling shareholder has left the Albion faithful deeply frustrated over the last seven years, with a lack of investment, unpaid loans, and broken promises leaving him an unpopular figure at The Hawthorns, which has been demonstrated widely at West Brom home matches by the protest group Action for Albion.
The Chinese businessman acquired West Brom back in July 2016 from Jeremy Peace for £175 million when they were a Premier League outfit and has been an absent owner for the majority of the time. Lai still owes Albion £10 million in loans for funding his other businesses during the COVID-19 pandemic, which in turn has resulted in a £20 million loan from MSD Holdings being taken out over a four-year period to fund the general running costs of the club.
But now light appears to be at the end of the tunnel with numerous parties interested in taking over the reins in the Black Country and putting an end to their perilous financial situation.
What is the latest takeover news at West Brom?
As the end of 2023 nears, Tom Collomosse of the Daily Mail has reported at least two parties are holding significant interest in purchasing the club.
Club director Xu Ke is leading the sale process on behalf of Lai, and Collomosse says the West Midlands outfit are on the market for a figure of around £60 million as discussions continue.
The article also states a USA-based consortium are part of the talks, and it remains to be seen which individuals or companies are involved.
The process appears to be nearing a conclusion with sports lawyer David Hinchcliffe pictured at The Hawthorns alongside Xu Ke and CEO Mark Miles.
Hinchcliffe has overseen plenty of English footballing takeovers in recent years, such as Evangelos Marinakis’ purchase of Nottingham Forest in 2017 and Andrea Radrizzani taking control of Leeds United in the same year.
And it is now believed he is playing a part in moving West Brom on from Lai in order to push the Baggies forward and see the club have fresh optimism and investment.
How have West Brom performed since the arrival of Carlos Corberan?
Last season witnessed a miraculous change in fortunes for West Brom when the 40-year-old took his place in The Hawthorns hotseat last October, with the Baggies originally slumping to the foot of the Championship table after his first competitive match in charge.
But after getting to know his methods, the playing squad responded by winning nine of their next 10 league games – registering seven clean sheets in the process.
The former Huddersfield Town boss was able to make The Hawthorns a formidable fortress, with WBA winning 10 out of their 15 home league matches.
In a resurgent run, Albion eventually slipped away from gaining a place in the play-offs, with ravaging injuries and the lack of a potent goalscorer contributing factors, but the slightest chance of promotion seemed improbable when he first walked through the doors in the West Midlands.
How would a takeover impact West Brom’s season?
If the completion of a takeover was secured during the January transfer window, it would open up a lot more possibilities of improving the playing squad, as long as investment is provided immediately.
A finalised takeover would also prevent a potential firesale from occurring with Albion needing to raise finances in the new year. This would allow the club to keep hold of their experienced EFL stars such as John Swift, Jed Wallace and Grady Diangana, which would in turn bolster their promotion chances if they were to remain at The Hawthorns.
