West Brom takeover twist: Consortium backs out of deal with Guochuan Lai – John Percy
John Percy has revealed that one group of potential buyers have now pulled out of the race to buy West Brom in a fresh update of the takeover.
Writing on his personal Twitter account (12 January), the Telegraph journalist reports that the Nigerian consortium have now backed out of a deal despite once being seen as one of the frontrunners.
But they are now not involved in the race to buy the club from Guochuan Lai, who is looking to sell the club after huge backlash from fans in recent years.
“That group is out of it now,” he posted in response to a fan comment.
Wow
It’s probably not the update that West Brom fans wanted to hear and read, but any progress is good progress right?
The club have reportedly been valued at around £30m without including the debt and various other loans that are owed, which makes the club a hard sell right now.
But the fact there are still said to be several parties involved in doing a deal can only be seen as a positive thing for West Brom and the fans and hopefully we will be able to see more progress in the coming weeks and months.
Investment in the club is needed desperately if the club want to push back up to the Premier League, despite the magic that Carlos Corberan is performing on the pitch with the current squad.
The quicker this whole situation gets sorted the better, but as groups begin to fall out of the running we can start to separate the pretenders from the real genuine options to takeover the club.
In other West Brom news, Jamie Carragher predicts result of clash v Blackburn Rovers.