One of the victims of the Albion power struggle that gave chairman Jeremy Peace control has backed the Baggies to snare a wealthy foreign investor.
Former director Barry Hurst believes the club have the pulling power to attract a rich benefactor to take over from Peace.
The chairman yesterday appealed for fresh investment at The Hawthorns, effectively putting his controlling share of just over 50 per cent on the market.
Hurst, who served briefly on the board under Peace, believes there will be interest in taking over.
He said: “There may not have been any interest so far but it’s a lot easier to push at an open door and Jeremy has now asked for new investment.
“It is a good club with a good history in the centre of the country so I would say it is attractive.
“It would compare favourably to Portsmouth and they managed to attract foreign investment to the club so I don’t see any reason why Albion shouldn’t do the same.
“You would have to say the club is bigger than Portsmouth.”
Hurst, who runs James E Smith Timber in Hockley, was a director under former chairman Paul Thompson.
Thompson made way for Peace following a bitter power struggle involving former manager Gary Megson.
Hurst served for a while under Peace before resigning from the board but he remains a season ticket holder at The Hawthorns. He also praised Peace’s record in charge.
He said: “I don’t think you can argue with the results or with what Jeremy has done to get the club to the Premier League.
“You would have to say that the club have done well in the time he has been chairman.
“But it does undoubtedly require massive investment to keep a club in the Premier League and that is what Jeremy is accepting.
“The clubs in the Premier League now show that teams need to spend a lot of money to compete at that level.”
Mr Hurst also ruled out a return to the boardroom for himself.
Former chairman Thompson declined to comment on yesterday’s announcement when contacted by the Express & Star.
16 Comments
I don’t really care what Ex directors think _ I wanno know what our CURRENT directors think…
Come on Albion - lets hear from someone inside the club ASAP….
richard branson will do..me and terry will buy a big balloon to travel to the matches in,,be fun trying to park that in the pub carpark,,,SUPA RICH BAGGIES GOING TO EUROPE THE MOWBRAY WAY,,IN STYLE OF COURSE,,OOOOOOOOH YES.
Yesterday the E&S, along with other media outlets
reported that the club has been put up for sale by Jeremy Peace.
Today the Birmingham Mail has suggested that this may not be the case, and that JP is merely looking for other investors, with him retaining the majority shareholding.
OK, so let us assume the Mail is correct,
that would effectively rule out any interest from THE major players,
no Oligarch or Bransonesque investor is going to want to be a bit part figure.
The Mail reporter has rather cynically posed the question about JP`s intentions,
that the proposed sale is a convenient front and ready made excuse as to why not much money will be spent on players.
This is why i said yesterday, and has been reiterated by Happy this morning.
It is imperative the club make an official statement of it`s intentions in the transfer market.
wbaforever
Because our clubs ownership is based on shares, the only way to actually invest in our club is to buy shares, if JP sells only part of his shares he will no longer have a controlling interest and i beleive it is this controlling interest that any potential investor is going to be interested in.
The transfer issue does need to be declared though, however do we need to show our hand when moving into a transfer world of under hand dealings??
I know it is difficult as a fan to sit and wait and read speculation after speculation, but hey we are Baggie boys we should be used to it by now!!
I don’t see the point in JP building up his share base, just to sell part of it - he aint desperate for a few quid…
It would make more sense to sell his majority to a new owner and if he wishes to continue his association, to join the board as a dirctor - maybe MD.
The stories about Oleg Deripaska are mouth watering - but its hard to see it happening (although the chance to buy a London club is getting harder all the time) - however who knows what JP has up his sleeve.
Whatever happens, it’s all a very long way from losing £30K a week under Trevor Summers or back in the bad old days of the 70s under Don Howe. The only question is, if we do become a super rich club, will those of us that have stayed loyal through the bad times become surplus to requirements in the new golden age?
Like 3. but we also have another mystery, any news on who will be replacing T-Mobile and didn’t JP show his hand and thoughts some 12 months ago when it was considered he was actually underselling the club and nothing came of that. This is only the beginning but let’s hope and have trust and faith that all this will get us closer to the elite in football and away from the yo-yo syndrome!!! WBA is for ever, JP is for the time being.
Bomber
The club can pacify the fans simply by saying they intent to pursue targets identified by the manager, without stating sums of money.
Also Bomber pleeeeease, your next blog,
no mention of anything remotely to do with this theme, unless of course something definite has happened.
Gracias.
Did anyone see TM in the stands at the Spanish game last night? He was casting his eye over Villa. Oleg can afford him.
O go on then. I’ll buy it, put you all out of your misery. Who do you want first ? David Villa (then we’d own the Villa) or Stevie G ?
Wallop do you mean Ricki Villi???
MM was in Argentina, he was casting his eye over Ricky Villa. - He is looking for golden oldies.
At last a blog with decent converstaion that has not been hijacked by supporters of other teams.
I cant see the russian thing taking off but to dream is great the world would be our oyster.
Robhinio, fabregas etc…oh well nice to dream once in a while.
I do think that to take the club to a new level would need a major investment and what better time to do it …close season open transfer windows etc…
Just been talking to terry, and his mate drinks with a guy who regularly plays golf with the bloke who washes the car of the bloke next door to Peace’s daughter’s teacher’s ex-husband…. and he said he aint heard anything !!
(sorry guys….)
2,worcester,we can fly over wolverhampton on the way and watch a champioship game and see all the empty seats aye boing boing
ya gotta let me drive tho terry,we could have one each then we would look like jordan,,,ME AND TERRY UP UP AND AWAY,,YIIPPPEEEEE.GOING IN STYLE OF COURSE..OOOOOOOOH YES..