Shareholders4Albion react to West Brom investigation over Jeremy Peace loan
Shareholders 4 Albion (S4A) released a statement declaring gratitude towards Ron Gourlay for investigating the loan taken out by former West Brom owner Jeremy Peace.
The shareholders’ group have been pushing for a review into the £3.7million loan taken out by Peace in 2014, and West Brom chief executive Gourlay has now followed up their request by giving the green light for an investigation.
Work around the investigation will be carried out by the King’s Counsel and will begin in the new year and could take up to six months to complete. [Express & Star]
S4A have now reacted to the investigation and praised Gourlay for his role in the process. The vice-chairman of the group Leigh Kent issued a statement.
“It is well documented that securing an independent investigation is something which Shareholders for Albion has pursued for a number of years,” read the statement, as quoted by Express & Star.
“We are grateful to Ron Gourlay for commissioning the investigation and working positively with us to agree reasonable and objective terms of reference.”
Peace’s loan, which was adopted by current majority shareholder Guochuan Lai following his takeover in 2016, has grown to £5million after interest.
Steps forward
Just a few months ago, the situation at West Brom looked incredibly bleak. On the pitch, the team was hugely underperforming under Steve Bruce and relegation looked like a real threat. Off it, supporters were protesting against Lai and the club’s financial issues.
Things on the pitch have improved drastically, with Carlos Corberan leading a revolution since his appointment that has seen the Baggies reel off five consecutive wins in the Championship.
But supporters never wanted results to cloud the off-pitch controversy around the club under Lai. His lack of communication and interaction with fans and shareholders has been alarming, and the club’s loan situation is rightfully worrying fans.
Thankfully, Gourlay hasn’t neglected these issues and is helping minority shareholders and fans investigate the strange loan situation between Peace and Lai following his takeover.
Hopefully, a thorough investigation provides all the answers and allows West Brom fans a transparent look at the club’s board.
In other West Brom news, Jake Livermore is facing an uncertain future after the latest Carlos Corberan decision