Finance Expert reacts to another West Brom takeover twist
Dan Plumley has insisted that West Brom have to look at the best offer on the table when moving forward with their takeover in the coming weeks.
It comes after The Athletic reported that Alex Hearn of Warmfront is happy to convert a £2million loan into equity if his bid alongside Mohamed Elkashashy is successful.
The football finance expert admitted that while that is a nice gesture, it’s not just about the takeover right now but the long-term plan to thrive at The Hawthorns.
“I think you’ve got to look at the whole picture,” he exclusively told West Brom News.
“£2million is not an insignificant amount of money, certainly for the company that it’s owed to, I’d imagine that is a significant amount of money as well.
“It’s a very nice gesture if this bid goes through and that company is a part of it to convert that into equity, that obviously is a boost for the club, but we don’t know the details of the other offers on the table with the ins and outs of it and you have to look at the best offer on the table all things considered.
“If there is a better offer on the table to take the club forward and that means you’ve got to pay £2million back as part of that and it’s not that company that you’re looking at being involved with then you have to weigh that up.
“I think you can see the positive side of that from the £2million write-off to equity and how that boosts the club, but I’m sure they will be looking at this much bigger and it’s not just about the takeover right now and the money that needs to be sorted, but the longer-term vision for the club in the next 5-10 years.”
Another Takeover Twist.
Unfortunately for Hearn and his group’s bid, it looks as though US businessman Shilen Patel is still the frontrunner to take over at The Hawthorns.
With suggestions that the ugly scenes against Wolves could have a negative impact on investors looking for a takeover though, there may be more twists along the way.
In other West Brom news, a journalist reveals how Birmingham fans stoked tensions at the Hawthorns after the Wolves controversy.
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