Group in advanced talks over West Brom investment

A group which includes Egyptian businessman Mohamed Elkashashy and Manchester-based sports lawyer Chris Farnell are in advanced discussions to buy a minority stake in the Baggies, which could eventually lead to a full buy-out of controlling shareholder Guochuan Lai.

Talks have been ongoing for several months but while Lai’s willingness to engage with potential investors is encouraging, Elkakashy and Farnell’s involvement has prompted some concern. Both were previously involved in failed buy-outs at Burnley and Charlton.

A statement from Action for Albion, the group set up last year due to mounting fears over the club’s finances, read: “Whilst we will not comment directly on any individuals, we will be meeting representatives of the club in the next week to urgently discuss this and other pressing matters, including the financial health of the club for the coming season.

“We will continue to scrutinise our current ownership and will work with other like-minded groups to continue to demand they act in the best interests of the club both now and in the future.

“Albion’s current situation continues to highlight the importance of the government’s football governance white paper.”

Elkashashy, 44, is the director of a financial services company and two London-based property businesses. Together with Farnell, he co-owns Staunch Partners Ltd, which is registered at a business address in Cheshire along with the latter’s law firm.

Farnell, 53, previously represented world heavyweight champion Tyson Fury and Cristiano Ronaldo during the latter’s first stint at Manchester United. He was briefly a director at Wigan Athletic, acted for former Leeds owner Massimo Cellino and was brought in by Bury in a last, unsuccessful attempt to save the club before they were expelled from the EFL in 2019.

In 2020, Farnell was briefly disqualified from being a football club director in England following the failed takeover at Charlton, before appealing successfully against the ban. He was also cleared of any wrongdoing by the Solicitors Regulatory Authority.

Albion’s financial health is the cause of some considerable concern following their failure to win promotion back to the Premier League last season. In January, the Baggies took out a £20million loan, secured against the club’s assets including The Hawthorns, to help with day-to-day running costs.