West Brom get takeover deal over the line
THE takeover of Premier League club West Bromwich Albion has been completed, making Guochuan Lai the third Chinese owner of a Midlands football club.
Dr Tony Xia bought Aston Villa in June and Fosun International took over Wolverhampton Wanderers in July. West Bromwich Albion’s owner Jeremy Peace then announced that he had agreed a deal with Mr Lai on August 5.
The deal has now been finalised, with Mr Lai’s company Yunyi Guokai (Shanghai) Sports Development buying Mr Peace’s 88% share.
“I’m delighted to complete the acquisition and to become the next steward of the club,” said Mr Lai.
“I would like to thank Jeremy Peace for his leadership over the last 15 years and for laying the strong foundations for the next stage of the club’s development.”
Mr Peace added: “It has been a tremendous privilege to lead the Albion. I am proud that 11 of my 15 seasons as Chairman have been spent in the Premier League whilst three others brought automatic promotion from the Championship.”
West Brom has had a mixed start to the Premier League season, sitting 12th after four games, having won one and drawn one. The club were also knocked out of the League Cup by League One side Northampton Town.
The club’s next three matches – against West Ham, Stoke City and Sunderland – will help to provide an indication whether a relegation battle awaits.
