West Brom to minimise damage as Finance Expert speaks out on PSR developments
West Brom are looking to minimise the damage by leveraging their position with the EFL after they were placed under a business plan, Dan Plumley said.
It was reported by Sky Sports journalist Rob Dorsett (3 August) that the Baggies were placed under an EFL-imposed business plan as the club are on course to breach PSR.
Dorsett said that transfers and wage costs need to be agreed with the EFL and they have been working closely with the body for close to a year due to issues from the previous ownership, but there is no current risk of the club missing bills.
Finance expert Plumley, speaking exclusively to West Brom News, said the club have made some smart moves to try and get a handle on it nice and early.
“It’s always best to kind of cooperate and get ahead of the game and they’ll have been informing the EFL of this and if they’re in this position now it is exactly that, making sure the EFL know where the club are at and vice-versa,” he said.
“Again, we were probably expecting something like this or we were unsure about whether the blank chequebook was just going to be opened given the financial challenges of the league itself and what the club had been through under previous ownership.
“So, it kind of makes sense with what we were thinking and this is exactly trying to leverage that position with the EFL making sure they know exactly what’s going on and getting ahead of the game with it and making sure that if there are any breaches you minimise the damage.”
West Brom make the smart play
The wave of optimism surrounding Shilen Patel’s takeover of the club is still being ridden and so it should be after the turmoil that supporters had to endure, as Kieran Maguire recently shared that a club executive had revealed work is being done to ensure financial compliance.
Working closely with the EFL is the smart play to take and hopefully will minimise the damage should any PSR breach be found in the future.
The good news is that the club is pulling together in the same direction right now and in Patel, the Baggies have an engaged owner who wants to take West Brom places.
Having started the new Championship season with a 3-1 win at QPR on Saturday (10 August), there’s no reason not to be optimistic still.
In other West Brom news, the club are looking at signing a Premier League striker on loan.
For more West Brom news, follow us on Facebook or join our brand new WhatsApp Channel for instant updates to be sent straight to your phone.