West Brom confirm fresh funding as official takeover update emerges from The Hawthorns
West Brom have confirmed that they have received fresh funding in an official takeover update that has emerged from The Hawthorns.
The Baggies shared the update on their website (27 November) that they have secured additional funding from MSD UK Holdings Limited, having previously borrowed £20 million from the American lender in 2022, with the loan increased to further fund Albion’s business operations.
Such supplementary borrowing will help the club with increased capital as Guochuan Lai continues to discuss a potential takeover with parties that are interested in purchasing the majority share in West Brom.
The four-year repayment term originally agreed on the £20 million initial loan has not been extended currently.
Huge news
Carlos Corberan has had his hands tied since arriving at The Hawthorns, with the Spaniard unable to add to his squad with any sort of transfer kitty over the course of the two windows that he has been in the Baggies’ dugout but that could be set to change. Had this deal not been confirmed, administration could have been a genuine threat.
With the January transfer window around the corner and West Brom well and truly in the race for promotion to the Premier League, this latest financial boost could have helped Corberan add a few extra players with genuine quality to boost the Baggies’ playoff hopes.
The only real boost, however, is the fact that discussions are continuing over the potential takeover of the majority stake of Albion, after a few years of genuine financial stress at The Hawthorns it feels like all elements are moving in the right direction.
Hopefully, the rest of the takeover negotiations and talks continue to go as positively and the newly mounting debt at The Hawthorns won’t prove to be too damaging as there has been plenty of scepticism over just how much the Baggies owe under Lai’s ownership. If the alternative is administration, this isn’t the end of the world.
Things need to get better soon off of the field as on the pitch it is a great time to a Baggies fan.
In other West Brom news, Corberan has suggested that the return to two Baggies stars could be “massive”