West Brom: John Percy reveals Nigerian investors twist in Hawthorns takeover saga as valuation set
A Nigerian group are among the frontrunners to complete a takeover at West Brom, according to John Percy.
The Telegraph journalist reported via the newspaper’s website on Wednesday (29 November) that an American party are also in the running.
It is claimed that West Brom are valued at around £30million, but that does not include the various debts and money owed in loans.
Percy wrote: “West Brom are still under the control of unpopular owner Guochuan Lai and remain in talks with a number of parties over a potential sale, with a Nigerian and American group thought to be the two frontrunners.” The report adds that “negotiations are moving”.
Further complicated
News this week that West Brom have taken out an additional loan was seen as a setback with regards to the takeover situation.
While there is now money coming in to keep the club ticking over on a day-to-day basis, it suggests talks with interested parties are no close to concluding.
It has long been thought that either an American or Middle Eastern party would buy out Lai, but this update on a Nigerian group being interested just throws another spanner in the works.
Discussions have surely gone on long enough with those previous parties for a deal to have been reached by now?
Adding more debt via these loans will only complicate matters, but the bottom line remains the same: West Brom fans are desperate for this Chinese ownership to sell up.
The closer we get to the January transfer window without a concrete development, the bleaker the situation will look.
Let’s just hope these latest investors are the real deal.
In other West Brom news, a Sky Sports pundit has given his automatic promotion verdict on Albion.