West Brom: Action for Albion shares takeover update at The Hawthorns
West Brom fan group Action for Albion has shared details on the workings of any potential takeover at The Hawthorns.
Albion director Mark Miles confirmed on Tuesday [Express & Star, 26 September] that talks have taken place with prospective buyers over a possible £35million sale.
Miles is working alongside WBA Group’s sole director Xu Ke – otherwise known as Ken – on the sale of the club, and are two of the very few who will know details about it.
There has been plenty of speculation regarding the takeover, but only a select few at the club are fully aware of the situation.
Action for Albion, a fan-led group set up to protest concerns regarding the ownership of the club, posted on Twitter on Thursday [28 September]: “It was stated to us on Monday that, for legal reasons, the only people who will know anything about any actual takeover are Mark Miles, Ken, the prospective purchaser and advisers.
“We understand that this is par for the course on corporate deals of this nature.”
Fingers crossed
West Brom are in need of new backers – that much is abundantly clear.
Albion’s controlling shareholder Guochuan Lai is seeking an exit from The Hawthorns and several parties are said to have shown an interest.
With no money coming into the club, the Baggies face the prospect of having to sell another first-team regular or two in January.
The hope is that the takeover situation is resolved before then, however, and the recent news seems to suggest there is at least some movement on that front.
Any prospective owner or owners would have to pay off Albion’s existing debt, on top of covering everyday funds that come with running the club.
While the situation has looked bleak for a while now, there is finally some light at the end of the tunnel.
Let’s just hope for more positive news when the next update arrives.
In other West Brom news, a journalist has predicted a change he can see coming at Albion in the near future.