THE new owner of West Bromwich Albion Guochuan Lai has said the club is “a great investment” as he looks ahead to the opportunities to grow its international fan base.
In an open letter to supporters, Mr Lai described himself as a lifelong football fan who has followed the Premier League club “for many years”, having known people who were involved in its tour of China in 1978.
“My passion for the game is one motivation for the acquisition. But there is more to it than that.” he said.
“From a business stand-point, the club is a great investment: it is financially sound and has a strong management team. I am thrilled to have the opportunity to capitalise on these strengths and continue its growth and focus on league performance.”
Mr Lai was part of the growth of Chinese giant Palm, which grew from a regional landscape engineering company into a £1.8bn group which is developing eco towns across China.
These smaller cities place greater emphasis on health, culture and leisure, and Palm intends to place football facilities at the heart of communities.
Mr Lai, who remains a director of a number of Palm’s subsidiaries, hopes these eco town developments can bring West Brom “millions of new dedicated fans”.
“There is also a real commitment, strongly supported by the government, to develop football and its culture in China,” he said.
“[T]his is a great opportunity to bring West Bromwich Albion’s excellent training system to China to help nurture young talent.
“One of the commitments of my partner in this investment, Palm, is to embed world-class football facilities into all of the new towns it is building across China. Clearly the West Bromwich Albion brand would be linked to those exciting developments.”
Mr Lai’s other investments include early stage and growth capital funding in virtual reality, tourism and sports businesses.
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