West Bromwich Albion to be 'taken over by end of month'

West Bromwich Albion look set to taken over by new foreign owners by the end of July after chairman Jeremy Peace granted exclusivity to his preferred buyer.

Peace issued a statement today confirming exclusivity had been granted to one party interested in the purchase of West Bromwich Albion Holdings Limited, the company he owns solely and which controls almost 90 per cent of the club's shares.

But the club stressed that the final throes of the takeover process will not affect their summer transfer business.

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"This follows discussions with several interested parties in the wake of his decision earlier this year to consider strategic options for the future development and legacy of the club," said the statement.

[youtube title="Steve Madeley gave this live video update via Periscope. Replay it here"][/youtube]

"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.

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"The chairman, head coach Tony Pulis, chief executive Mark Jenkins and Richard Garlick, the director of football administration, have met to discuss and progress future transfer targets.

"They remain in constant dialogue over the re-shaping of the first-team squad for the 2015/16 Barclays Premier League campaign."