West Brom: Chris Lepkowski shares ‘red flag’ verdict after takeover development at The Hawthorns
Chris Lepkowski has shared details on a development at West Brom that underlines how “pitiful” the club’s financial situation is.
Albion confirmed last week they have taken out a further loan with MSD Holdings, whom they already borrowed £20million from 12 months ago.
That only adds to the debts the new owner, or owners, will inherit once a takeover at The Hawthorns goes through – if it ever does.
Speaking on The Liquidator podcast [3 December, 17m 55s], former Birmingham Mail reporter Lepkowski said: “Just to give some insight into how bad the finances are, I’m aware of reasonably wealthy Albion fans who have been approached – not by anyone at the club, but by other parties – with a view to whether they’d be willing to join forces and pitch in to try and bail the club out.
“I don’t think anyone in their right mind is going to do that right now. But it really underlines the place we are in right now, to the extent that these people are aware of where the club is at right now, who know that something has to happen.
“Really, the biggest red flag from my point of view is that it just shows how pitiful West Brom’s financial state is right now above everything else.”
Worrying
There was plenty of movement with regards to the takeover situation last week, and yet at the same time we are still in the same position as we were a few months ago.
The Telegraph’s John Percy revealed that a Nigerian party and an American party are the frontrunners to take over at The Hawthorns, but time really is ticking on a deal to go through.
Taking out another loan means the club will at least be able to keep ticking over for the time being, but it is worrying that these debts are piling up.
There is hope that a takeover could yet go through before the end of the year [John Percy, 29 November], but realistically speaking, it is looking increasingly likely Albion will head into the new year in the same position.
That could force the club to sell another first-team player, thus derailing Carlos Corberan’s promotion bid.
For now, let’s just keep those fingers crossed that talks are progressing behind the scenes and an announcement is close.
In other West Brom news, an Albion player has been ruled out of the game against Sunderland after a development at the weekend.