Action for Albion share update on West Brom full takeover after meeting with CEO Mark Miles
Guochuan Lai is ready to listen to offers for a full or partial takeover and his deeply unpopular time as owner of West Brom.
That was the message revealed on Twitter by ‘Action for Albion’ on Thursday (22 June) following a meeting with managing director Mark Miles and director of communications Ian Skidmore.
West Brom are in a perilous financial position with finance expert Kieran Maguire revealing how the club borrowed £20million at Sterling Overnight Interest Average (SONIA), a sum that still needs to be paid back and is gathering significant interest.
Daily Mail columnist Ian Herbert also revealed how Lai also still owes the Baggies £4.5m that he borrowed from the club in 2021 to help his company ‘Wisdom Smart’.
Now it appears there is a glimmer of hope for Baggies fans that Lai may be willing to sell up, with ‘Action for Albion’ posting: “After meeting with Mark Miles and Ian Skidmore last night, we can confirm publicly that the owners are willing to listen to offers of investment, either in part or full takeover.
“We will continue to keep you, the fans we represent, updated.”
Time to go
What has been happening at West Brom in recent years is, frankly, nothing short of a disgrace.
One of English football’s grand jewels treated as a rich man’s play thing.
But the ramifications of Lai’s actions are now coming home to roost, with West Brom facing up to the very realistic nightmare of having to pay back on loans taken out to try and achieve the goal of a return to the Premier League – a goal that ultimately fell short.
With parachute payments drying up, a significant amount of the club’s TV money is going to be needed to pay back these debts, meaning that without significant investment many of the club’s stars will have to leave.
That process has already begun with skipper Dara O’Shea on his way to Burnley and others could still follow.
For the sake of everyone involved at West Brom, it’s time to go Guochuan Lai.
In other West Brom news, Carlton Palmer shares his thoughts on the “strange” financial situation impacting player sales.