Guochuan Lai in advanced West Brom takeover talks with Shilen Patel, serious stage reached
Shilen Patel is in advanced talks with Guochuan Lai over a takeover deal at West Brom, according to the Express & Star.
The newspaper reported on its website on Friday (9 February) that talks over a prospective takeover have reached a “critical stage”, with the Baggies’ controlling shareholder hoping to complete a sale within weeks at The Hawthorns.
It said negotiations have been ongoing with American businessman Patel for a number of weeks, but the Armenian-backed Noah Football Group also retain a “serious interest” as the pressure increases on Lai to sell.
Guochuan Lai must reach a West Brom takeover agreement soon
It seems as though the talks are progressing well over a takeover deal with Lai, but the West Brom fans will be cautious about getting too excited before anything is agreed.
The controlling shareholder needs to reach an agreement soon to secure the club’s long-term and allow matters to start moving forward on and off the pitch.
It appears as though Patel, who is believed to be the preferred bidder of MSD Holdings, is firmly leading the race at the moment despite the interest from Noah Football Group.
Chris Farnell sent a signed letter to Lai recently, where he suggested proof of funds totalling £110million can be provided to take a minority stake in the club, but it’s unclear what the response was to that.
There is no doubt that Albion do need fresh investment and a takeover soon, but the latest update shows that things are moving forward and a deal could be reached before too long at The Hawthorns.
In other West Brom news, the repayment date for Guochuan Lai has passed as a Warmfront Holdings development has emerged.
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