West Brom takeover News: Critical Stage As Guochuan Lai Sales Baggies For Whopping $4.5 Billion…
West Bromwich Albion continue to edge their way towards a takeover from current controlling shareholder Guochuan Lai
On the field, though, optimism is still present as Albion is still in contention for promotion under Carlos Corberan. Following his appointment to the Albion managerial position in October of last year, the former Huddersfield Town manager has excelled.
The Baggies supporters hope a takeover will lessen the financial burden the team currently faces and offer significant investment into the playing squad in order to give themselves the best chance of success moving forward. Here at Football League World, we bring you the most recent updates surrounding West Brom’s takeover bid. Security off the field is crucial for the club right now.
The front-runner in the competition to take over The Hawthorns is still thought to be American billionaire Shilen Patel, but Cox also notes that Noah Football Group, supported by Armenia, is also showing a “serious interest” as pressure mounts on Lai to sell.
This is a positive step forward for the Baggies, who finally have a set timeframe of when the deal is to be concluded. At this moment in time, Patel is still the favourite due to his ties with Albion’s creditors, MSD Holdings LTD.
Chris Farnell and Alex Hearn are due to fly to China this week to try and close in on a takeover of West Brom, according to The Athletic’s Matt Slater.
The journalist reported that the pair remain in the running to purchase Albion and are confident they have the “inside track” with Lai to become minority shareholders of the Black Country outfit.
The BBC had previously reported that Cheshire-based lawyer Farnell has been in talks with West Brom for the last several months in a bid to buy a stake in the club and has proof of funds required to purchase a nine-and-a-half-per-cent stake, stating a total of £110m can be provided.
However, BBC Radio WM reporter Steve Hermon rubbished links about Farnell taking over the club on his X account, stating the duo “are not close to a deal and more importantly have never been close”.
If Shilen Patel completes a full takeover at West Brom, he is planning major overhauls at the club, including replacing current boss Carlos Corberan, according to a report by Tuttosport (via Sport Witness).
The Italian publication claims the Florida-based man has offered Torino manager Ivan Juric a ‘super contract’, worth over €2m plus bonuses, warning that, despite the club being in the Championship, money is not an issue.
A lot of Albion supporters will find it unusual to read in the report that the Baggies “are rich and can afford salaries that very few teams in Italy can provide,” considering the club’s well-documented financial problems.
Juric, a Croatian, has stated unequivocally that he will only remain in Italy should Torino be able to go to Europe.
The devoted to Albion would be shocked if this decision were to be implemented.
After spending Steve Bruce’s tenure in the bottom of the second division, Corberan has been able to rebuild the club’s rapport with the supporters and turn them back into promotion candidates.
