West Brom in advanced takeover talks in race with time to seal deal
Albion have entered advanced takeover talks with prospective buyers as the clubs races against time to get a deal over the line.
It is understood the club have reached a crunch period of negotiations between interested parties and controlling shareholder Guochuan Lai with the club keen to complete the deal by next month.
The Express & Star understands a United States consortium are the leading contenders to purchase Lai’s 87.8 per cent shares. Other interest groups have been in talks, with Lai not yet granting exclusivity to any one party.
The clock is ticking for Albion to make a deal work for the start of next year. Albion recently took a second loan from MSD Holdings to look after bills and overheads until a takeover is complete.
An ideal world would see a deal wrapped up by somewhere in the middle of next month as Albion work to secure themselves and stabilise both on the pitch and on the balance sheets.
It remains the case that the club will have to look to reduce the squad’s wage bill regardless, with some players regarded as more saleable. It is expected a ‘fire sale’ will not be required, but with dwindling loan funds and an unsustainable squad salary any sort of offer Albion deem realistic may be considered. It is understood the US group, viewed as serious contenders, have advanced in talks and communicated with Albion’s football staff about ways to move the club forward on and off the field, and are willing to invest with ambitious targets. Albion are on the market for a value of around £30million-£35million excluding debts, which take the figure to around £60m.
Highly-regarded head coach Carlos Corberan, deemed the club’s best asset, and a squad currently proving its capabilities of battling for a Premier League place at the midway point of the Championship season, proves there is scope to kick the club on.
Corberan has insisted he and his squad’s focus will not shift from the target of fighting for a top-six position despite outside noise.
Lai’s Yunyi Guokai (Shanghai) Sports Development Limited will take a considerable hit on the £200m it purchased Albion from Jeremy Peace in 2016, when the club were in the top flight.
The Chinese, mostly absent and in his homeland during his stewardship of the club, has been unwilling to invest beyond player sales and television revenue and Albion have dropped into the Championship and looked consigned to stay there prior to Corberan’s appointment.
It has been an unhappy tenure for Lai and angry supporters have rallied against his ownership for several reasons, including the notable £5million loan taken from Albion for another of the Chinese’s firms, which has never been repaid.
