EFL scrutinise tests as West Brom takeover verdict emerges – Finance Expert
We’re delighted to welcome football finance expert Dr Daniel Plumley as our exclusive West Brom columnist. Each week he’ll be giving his views on the biggest talking points at The Hawthorns...
Dan Plumley has insisted that the EFL will be looking at Fred Chesnais’ links to Crypto after he was linked with a takeover of West Brom.
The Daily Mail reported on 25 July that the French Crypto investor is in talks over a £60million takeover of the club and all of its assets, including The Hawthorns.
The finance expert admitted that the EFL are scrutinising takeovers more nowadays, with their fit and proper test potentially changing very soon.
“It will be looked at for sure,” he exclusively told West Brom News.
“Another thing to point out is what is happening with the fit and proper person test at the minute, historically we’ve seen it not really covering a lot of ground.
“It looks at criminal records and convictions, and proof of funds is all you need, the EFL are now scrutinising that in more detail nowadays. Certainly, with some of the more recent takeovers, they are looking at that in much more detail and we’ve probably got changes coming to those regulations as well, so that will factor into the mix.
“It will be looked at because deals are being scrutinised more and more, and because Crypto is still an unregulated market and there is no governance around it more generally, then you’d expect the EFL to be looking at that in great detail.
“Because it is brand new and we haven’t seen anything prior to that, there won’t be anything that links that type of business to that fit and proper test.”
In other West Brom news, one attacker has been mooted to be on his way out of the club this summer