Independent shareholders watch Guochuan Lai very closely as West Brom loan repayment deadline approaches
Independent shareholders are on red alert watching Guochuan Lai keenly at West Brom as the deadline for his loan repayment approaches, according to Martyn Ziegler.
Lai has until December 31 to repay the £4.95million loan plus interest for the loan that was taken out after the COVID pandemic, which raised big concerns.
It has been shared that the Baggies will release a statement to the fans publically once the loan has been repaid by the owner at The Hawthorns.
Writing in his latest column for The Times, Ziegler shared the latest from The Hawthorns as the days quickly disappear ahead of the deadline.
“The West Bromwich Albion owner Guochuan Lai is being watched keenly by independent shareholders to see if his promise of repaying a £4.95 million loan plus interest by December 31 is fulfilled,” he wrote.
“Albion shareholders raised concerns over Lai’s Hong Kong-registered company Wisdom Smart Corporation Limited (WSCL) taking the loan from the club after being affected by the Covid pandemic.
“The club said there are plans to release a statement when the loan is repaid.”
Clock ticking.
Despite all of the good work that Carlos Corberan has been doing on the pitch with the squad and taking the fear away from relegation, everything else is not great.
Ron Gourlay spoke out on matters this week and revealed that Lai told him that the loan would be repaid, although that didn’t do much to fill the fans watching and listening on with confidence.
This is a saga that needs to be ended as soon as possible, but it looks as though with each passing day that it will drag out until the exact day on 31 December.
Gourlay also confirmed that money will not be taken out of the club again in this manner while he is in his role, although that is another promise that could easily disappear.
With a matter of days left before this is repaid, let’s hope this can be put behind us and the club can move into 2023 with a clean slate – although that is never something that happens at this club.
In other West Brom news, Jake Livermore is facing an uncertain future after the latest Carlos Corberan decision