Albion supporters club chairman John Homer hopes that a Black Country investor can be found as the club announce that they are seeking “major new investment.”

The club released a statement today to that effect and it is thought that chairman Jeremy Peace, who owns 50.56% of the club, may even step aside completely if the right offer came along.

Homer believes that Peace may well feel that he has taken the club as far as he can, but hopes that a local person with the right resources can be found to take the club to the next level.

He said: “It may be a bit of a pie in the sky thought but that is what I, and probably most of the supporters, would want.

“Whether there is someone out there with those sort of resources remains to be seen. Failing that, it would most probably be overseas investment, which as a Premier League team we would be a attractive proposition.

“What I would not be interested in is the sort of situations going on at Manchester City and Liverpool. At Anfield in particular, when you have got two foreign owners fighting amongst each other, how can that be good for the club?

“The problem is that the supporters never know the full story. With some takeovers, the owners see the club strictly as a business. They will wrestle for as much control as they can.

“How will that effect me, the small man who has two or three shares just to own that little bit of my football club?”

Homer insists that if Peace’s time at the Hawthorns is indeed coming to an end, he will leave Albion in a much stronger position to succeed than when he arrived.

He said: :”Maybe Jeremy feels that has taken the club as far as he can and now is the time to hand over control to someone who can take them to the next level. But make no mistake about it. Jeremy Peace has been good for West Bromwich Albion.

“We have a top class academy, a much improved ground, the club is back in the Premier League and, to the best of my knowledge, we are not operating at a debt.

“Even if any potential takeover does not come off, I am sure Jeremy will continue on and will act in the best interests of the club.”

Despite his misgivings, Homer can see the attractions that substantial investment could bring.

He said: “Even with the estimated £60m promotion would bring, what will that realisitically get you? Roy Keane spent about that for Sunderland to finish 15th in the Premier League last season.

“The harsh truth is that, to be successful in the Premier League, you need lots and lots of money.

“What we do not want is the club to go the same way as Bradford, Leeds and the like.

“All I like to see is that the people coming into the club are football people, have lots of money and will protect the interests of the shareholders.”