West Brom hope to complete £60m takeover within a month
West Brom are hopeful that a £60m takeover will be completed within a month to bring an end to Guochuan Lai’s tenure, according to the Daily Mail.
Writing on their website (9 February), the news outlet report that a deal will be worth around £60m with £28m for the club with the rest going to wipe the club’s debt.
Shilen Patel is still considered the frontrunner to buy the club, with Chris Farnell and local businessman Alex Hearn not at this stage believed to be strong contenders to succeed Lai outright.
“West Bromwich Albion are cautiously hopeful the club will be sold within a month to end a protracted takeover saga at the Championship side,” they wrote.
“The asking price for Albion is thought to be close to £60million – about £28m for the club itself with the remainder covering the debt.
“US businessman Shilen Patel is thought still to be the front-runner to take control and end the disastrous ownership of Guochuan Lai.”
West Brom takeover finally close to completion
It finally seems as though the Baggies are getting away from the disaster which has plagued them for years, and it couldn’t come at a better time.
Patel seems like a serious option to takeover and with wiping the debt clean too it means a genuine fresh start for the club.
Carlos Corberan has worked miracles on the pitch since coming into the club last year and took them from battling relegation to a playoff battle, and they’re now right in the mix once again despite having an incredibly limited budget and playing squad.
It’s been a long time coming for this club to move on from having Lai as the majority shareholder, and putting this whole cherade of an era behind them will be the best thing this club can do.
If it goes through in the next month as expected then it will be ideal as the preparation for the summer can begin early and a real run through of what needs to happen behind the scenes can take place. It’s exciting times for West Brom.
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