Administration unlikely if West Brom fail in Premier League promotion quest says CEO Ron Gourlay
Albion chief executive Ron Gourlay insists he does not see administration as likely should the club fail to win promotion to the Premier League this season.
The Baggies chief executive spoke out on a range of subjects, chiefly the club’s financial concerns including the £5million loan repayment from major shareholder and chairman Guochuan Lai, which has missed two deadlines.
Gourlay, who marks a year in the job at the beginning of next month, also explained the reasoning for Albion’s move to take out a £20m running cost loan from a US equity firm and what it will mean for the club moving forward.
The prospect of administration has been feared by some supporters, especially if Carlos Corberan’s in-form team are unable to win promotion to the top flight this term. Gourlay, though, ruled that out as a threat for the short term.
“It’s not a word I’ve heard bounced around the club,” Gourlay said. “I don’t think it will get to that stage, of course it’s the last thing that anyone would want to hear or discuss.
“I think that is not hanging over our head at the present time, there’s other things we can do.
“We’ve got to look at investment into the club, this is a big club, investment in the football club lies with the main shareholder and doesn’t lie with me, that decision has to be made by him.
“From my point of view, I’ve made my position very clear. I was brought into the club because of my 25 or 30 years’ experience, for people to listen and I’ve given my advice over certain challenges the club has.
“At the end of the day it will be a decision for the owner.”
Albion’s financial support courtesy of parachute payments, awarded to clubs relegated out of the Premier League, drops significantly in their third Championship season – which Albion will enter next term.
