West Brom suspend takeover talks

WEST Bromwich Albion have suspended takeover talks with an unnamed bidder.

As happened with local rivals Aston Villa recently, West Brom have seen a period of excusive talks with a preferred bidder end without a positive outcome.

Both clubs are now back at square one as far as a sale is concerned and it looks almost certain that Albion and Villa will start the new Premier League season on August 8 with their future ownership remaining uncertain.

Albion chairman Jeremy Peace said: “It is now clear to me that this potential purchaser is unable to fulfil the terms of that agreement at this time.”

But he suggested Albion might have other irons in the fire saying “both before and since the exclusivity announcement was made, other parties have expressed strong interest in a purchase of the club and therefore that process remains on-going”. 

Peace, who owns 88% of the club, has been chairman for 13 years, and said in February he would be willing to sell “if it was right for the club”.

It was at the beginning of July that Albion suggested they could be under new ownership by the end of the month. A price of £150m was widely discussed.

In a statement, the club’s chairman Jeremy Peace said the Premier League club had granted exclusivity to a single party interested in the purchase of West Bromwich Albion Holdings Ltd.

The identity of the bidder was not disclosed but it was suggested it might be a Chinese consortium.

The club said the ‘deal’ had followed discussions with several interested parties in the wake of Peace’s earlier decision to consider strategic options for the future development and legacy of the football club.

“This process should be completed by the end of this month and in the meantime, the club wishes to assure supporters preparations for the new season will remain unaffected,” said a statement on the club’s Facebook page at the time.