West Brom takeover news: Lai boosted in bid to sell West Brom as European Super League implodes
West Brom owner Guochuan Lai must be feeling pretty relieved this morning after news broke overnight that the European Super League was falling apart.
Arsenal, Chelsea, Liverpool, Manchester City, Manchester United and Tottenham have all announced they have backed out of the controversial ESL while founder and Juventus chairman Andrea Agnelli has recently confirmed it cannot go ahead without the Premier League clubs.
The ESL was probably thought up to try and make money from markets across the world like in the USA, the Middle East and China. But one man in China will no doubt be thrilled with the news the ESL has imploded.
Lai is reportedly “desperate” to sell West Brom and has set an asking price of £200million for the relegation-threatened Premier League club [Daily Mail].
According to a recent report by The Athletic’s Steve Madeley, Lai’s hopes of recuperating the £200million he paid to buy West Brom in 2016 would have suffered a big blow if the ESL was formed.
If the ESL went ahead and the Premier League kicked the six clubs out, it would have no doubt ruined the financial pull the English top-flight has and therefore wrecked the value of the Baggies.
While we don’t think that Lai will get anywhere near £200million for the Black Country club, we’re happy that the ESL’s failure could have a direct impact on how quickly the Chinese businessman will be able to sell up.
It’s been a tough few years with Lai as owner.
We’re no longer the established Premier League club we became under Jeremy Peace and look set to find ourselves yo-yoing in between the top two tiers for the coming years.
We want Lai to go but we want someone to come in who will at least have some presence and some money to invest in the club.
Lai has completely failed on both of those counts.
In other West Brom news, Kevin Phillips claims this player’s value is rising by £1million each time he plays.