West Brom takeover: ‘Huge’ debt update emerges at The Hawthorns
Dan Plumley has insisted that the clearing of debt at West Brom by Shilen Patel and his takeover is “huge” for the club and its fans.
It has been shared that Bilkul Football WBA, LLC is paying off £40million of debt at The Hawthorns, with the overall deal said to be worth up to £60million in total.
The football finance expert admitted that the Baggies can finally start from a baseline budget again, allowing them to work their plans from scratch after years of trouble.
“If you look at the club and the fan aspect of that and separate the club from the owner, the clearing of the debt is really significant,” he exclusively told West Brom News.
“That was obviously going to be and has been a lot of the sticking point in takeover talk that has proceeded these events and there is always that subjectivity around how you value a club.
“I’ve always said on record that £60million feels about right for West Brom given where they are at right now in the league standing and where they’ve been, but that doesn’t factor in all of that debt.
“So, if it’s £60million with the debt off as well, it seems all thing considered a really good deal for the club and the fans as well.
“The clearing of the debt, for me, is significant in this deal and if you’re starting then with a clean slate, you can’t just throw money at it as we know in a world of profit and sustainability regulations, that can’t happen anymore, but the clearing of the debt is huge to be able to start from baseline budget again and work your plans there over the next few years.”
West Brom takeover celebrations at The Hawthorns
The takeover should be fully confirmed this week after Shilen Patel broke his silence on the deal, with an agreement in place and all tests passed.
Once that happens, the new era can fully begin at West Brom – bring it on.
In other West Brom news, Don Goodman fears a Carlos Corberan “disaster” at The Hawthorns.
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