West Brom commit to £700k-a-year interest as wage update emerges
West Brom are preparing a fire sale in the summer if they remain in the Championship due to their existing wage structure, according to the Daily Mail.
At present West Brom will be unable to meet their current wage obligations, which could see a number of players depart in the summer.
The Daily Mail claim (print edition, pg 111, 6 May) the Baggies are committed to paying £700,000 per year in interest payments to service their £20million loan from MSD Capital.
The club took out the loan to provide cashflow in December after Guochuan Lai failed to repay his outstanding £5million payment. West Brom have effectively written off the loan, with Lai failing to make agreed interest payments.
Shambles
How can this be allowed to happen? The club’s future is at risk because of Lai’s actions. It goes without saying, but Monday’s (8 May) Championship clash against Swansea could be vital for the Albion’s long-term future
Premier League football and the riches that come with it would see West Brom’s financial difficulties vanish into thin air. The loan from MSD Holdings would be covered and Lai’s £5million would seem like a drop in the ocean.
With Blackburn and Millwall playing each other, and Coventry away to Middlesbrough, there’s a chance for the Baggies at Swansea. Russell Martin’s side are firmly on the beach after missing out on the playoffs.
A win will stand Albion in good stead. It’s about focusing on getting the job done in South Wales and hoping the other pieces fall into place. Nevertheless, the news on Lai and the latest interest payment will see concern grow around The Hawthorns.
In other West Brom news, it could take this player 18 months to fully recover from his latest injury blow at The Hawthorns.