Revealed: Big West Brom takeover update as £50m talks held

Revealed: Big West Brom takeover update as £50m talks held
West Brom chiefs are growing in confidence that a takeover deal can be agreed this year after holding exploratory talks, sources have told Football Insider.

The Baggies have held talks with multiple parties from the US and the Middle East as they look to find suitors to purchase the club from current owner Guochuan Lai.

As reported by The Telegraph, the Championship side could face a ‘fire sale’ in January if new owners aren’t found.

The club has struggled financially under Guochuan Lai and with the Chinese businessman not willing to inject more funds into the club they could be forced to cut costs this winter.

West Brom already offloaded a number of first-team players in the summer to lower the wage bill, including the sale of Dara O’Shea to Burnley for a fee less than his release clause.

 

West Bromwich Albion owner Guochuan Lai took £4.95m company loan from club - BBC Sport

 

With the threat of a January firesale looming in the background, West Brom have begun the process of contacting potential buyers, with talks held with US investors this month.

Lai has set a £50million asking price for his majority stake in the club, despite paying around £175million to acquire the shares from Jeremy Peace in 2016.

 

Sources have told Football Insider that West Brom are growing in confidence that a bidder can be found in the next few months.

West Brom previously held talks with an American consortium over a possible takeover in 2020, but no agreement was reached due to Lai’s high asking price.

 

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