West Brom: Details shared on Alex Hearn U-Turn in latest takeover twist at The Hawthorns
Matt Slater has shared further details on Alex Hearn’s part in the takeover saga at West Brom following news that Guochuan Lai has agreed to repay a loan.
The journalist reported for The Athletic on Wednesday (14 February) that Lai is to pay back a loan he secured on shares in West Brom’s parent company.
Lai borrowed £2m from a company controlled by Hearn, who it was reported earlier in the week was travelling to China with lawyer Chris Farnell to try and close a takeover of Albion.
However, it now appears that Farnell’s path to being part of the takeover is very difficult at best, with Hearn instead going down a different route.
Asked on Twitter [15 February] why Hearn was no longer trying to finalise a deal with Farnell to purchase Albion from Lai, Slater said: “Hearn changed his mind. It happens.”
In a separate tweet, Slater added: “Farnell hasn’t given up at all. What’s changed is Hearn’s faith in Farnell’s ability to do a deal with Lai.
“Hearn now thinks his best chance of getting his money is a repayment schedule linked to a Shilen Patel takeover.”
West Brom takeover situation latest
Another day, another possible twist in the West Brom takeover saga. What can be said, though, is it is now looking increasingly likely that American businessman Patel will be the man to take over from Lai.
Hearn, who had been due to be paid back by last week, will now get his money across three instalments over the next 18 months.
All that is linked to the funds Patel puts into the club, so it is all starting to click into place.
The fact that Farnell “hasn’t given up”, in the view of Slater, means there could yet be a further development. Exactly what that entails is anyone’s guess.
Either way, an agreement being reached between Lai and Hearn over this repayment is a positive development.
It means Patel is another step closer to completing a takeover, and the Baggies are another step closer to entering a new era.
In other West Brom news, Tony Brown raged at a senior player despite Albion’s 2-0 win over Cardiff City.
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