West Brom finally to investigate Jeremy Peace over £3.7m loan
West Brom are finally set to investigate a £3.7million loan former owner Jeremy Peace took out of the club in 2014.
An official club statement confirmed that they would hold an independent investigation into the matter after a number of lengthy conversations with the Shareholders for Albion (S4A) group.
S4A represent every shareholder in the football club and have been calling for action ever since Ron Gourlay took over as the club’s chief executive and are finally getting their wish.
“When I joined the club in February, I was asked by Shareholders for Albion to investigate the 2014 loan, and we have since worked with the group to agree the terms of reference for an independent investigation,” Gourlay said.
“I am confident the appointed King’s Counsel barrister will compile a thorough and detailed report which, whatever the outcome, will help us to move forwards in the best interests of the club.”
About time
As the saying goes: ‘Better late than never’. But West Brom could have done with this money and situation sorted out while they were still in the Premier League.
Nearly £4million could have easily funded one or two transfers, maybe even more, that could have kept them in the top flight of English football rather than dropping into the Championship.
The second tier is infamously difficult to get out of nowadays with Premier League money seeing the relegated teams only get stronger when they fall down.
West Brom didn’t get that memo and slowly regressed under Valerien Ismael and Steve Bruce into a side that is now bang average in the Championship and no better.
To return to a side that could challenge for promotion would take big investment and without this cash in hand, Carlos Corberan holds little chance of being the miracle worker that The Hawthorns desperately needs.
In other West Brom news, this Italian starlet from the Baggies was picked among the elite talent of his country and won every game at a traditional festive tournament.