Finance expert reveals early look at West Brom accounts as update on £5m Guochuan Lai loan emerges
West Brom have confirmed in their latest accounts that the loan repayment due from Guochuan Lai is not expected to be received at all.
Kieran Maguire relayed the information on Thursday 30 March, with the value of the £5,059,000 loan now sitting at “nil” alongside the Wisdom Smart Corporation loan.
Lai has pushed back the deadline of his repayment numerous times now, with the latest coming at the turn of the new year into 2023, which resulted in nothing.
Writing on his personal Twitter account, Maguire shared the news that many Baggies had been expecting for months now as this drama continues.
“West Bromwich Albion accounts show the loan due from owner Lai is not expected to be received and so write it down to zero,” he wrote.
Shock.
The news that everyone was expecting has finally been delivered.
No one will have expected these accounts to be positive, but to see the £5million loan now sitting at nothing is just another dagger into the heart of this club.
Lai and the entire boardroom have run the club into the ground, and it just shows that no matter what happens on the pitch, there will always be a big shadow hanging over The Hawthorns.
Ron Gourlay previously admitted that he was pushing for answers when finally going into conversation with concerned fans, but that did nothing to change the mind of Lai.
If the money was there and ready, it would have been repaid by now, but the £20million loan since taken out shows that the finances are now in a dangerous shape.
Just when you think things couldn’t get any worst, things like this happen and laugh in your face – change is needed, immediately.
West Brom have since shared an official update stating that Lai has informed the club that the loan and interest will be repaid in its entirety.
In other West Brom news, this attacking duo has been named in the best English XI from the Championship this season by a stats company.