West Brom sale is 18 months in the making

Today's developments have seen Peace end his 16-year involvement at the Hawthorns, with his 88 per cent stake in the club going to Guochuan Lai.

The 42-year-old entrepreneur is a controlling shareholder in Yunyi Guokai Sports Development Limited, a new company focused on the sports industry.

Lai built his career developing Palm Eco-Town Development Company into China's largest landscape design and construction business.

Palm is listed on the Shenzhen Stock Exchange with a market capitalisation of £1.8billion. It generated revenue of £500m in 2015.

Peace has also resigned from his 14-year role as chairman, with former Blackburn Rovers chief executive and chairman John Williams stepping in.

He first announced his intentions to sell in February 2016, issuing a document to financial experts with the intention of attracting investment and-or a buyer.

13 February 2015: Albion seek new investment and may sell.

By April, he was fielding enquiries from foreign investors about a £150m-£200m takeover.

At least one potential group of buyers had been shown around the Hawthorns and the Albion training ground.

5 April 2015: Jeremy Peace in £200m takeover talks for West Bromwich Albion.

Peace also set a mid-summer deadline, by the start of pre-season training in early July, to complete the deal or threatened to shelve the sale.

6 April 2015: Jeremy Peace sets deadline in West Bromwich Albion sale talks.

Two overseas investors were thought to be close to making an offer later that month, but their interest never materialised.

27 April 2015: Foreign investors close to West Brom bid.

Peace had earlier promised boss Tony Pulis that a potential takeover would not drag on and scupper his summer transfer plans.

24 April 2015: West Brom take-over won't affect transfers.

It looked as if a deal was imminent in early June, with Peace entering the final throes of discussions about selling his controlling stake.

The mystery bidders had completed 'due diligence' and been impressed enough with the club's accounts to take their interest forward.

4 June 2015: West Brom edge closer to takeover.

Peace granted exclusivity to a foreign party on July 3, under the proviso that a deal be completed to buy the Baggies by the end of the month.

It dramatically fell through before then and was called off, with the owner ending talks with his preferred buyer "in the best interests of the club."

24 July 2015: West Bromwich Albion takeover deal collapses

Peace stayed true to his word and appeared to put any notion of a take-over on the back-burner for all of the 2015-16 Premier League season.

The team again reached safety, guaranteeing them another season of top-flight football at a time when the new mega-money TV deal comes into effect.

The club continued to prove their worth in April, when they announced pre-tax profits of £7.6m for the 2014-15 season. Peace owns 87.8 per cent of the shares.

8 April 2016: West Brom record pre-tax profits of £7.6m.

It was after that, as Peace wished, that talk of a sale again came to light as the owner again fielded interest from potential buyers, whittling down the applicants.

20 June 2016: West Brom sale - Jeremy Peace fielding interest from potential buyers.

By the end of June, Chinese whispers were growing louder in the Black Country. That was the country where the firmest interest was again appearing to come from.

29 June 2016: West Brom Chinese ownership whispers gathering pace.

The majority of West Bromwich Albion's shareholders wanted Peace to sell and made clear as such in late-July, before the takeover really started to gather pace.

21 July 2016: West Brom share-holders want a sale.

Albion fans glanced across the Black Country to Wolves, after they were bought by Chinese conglomerate Fosun International later that day.

The Express & Star made it clear a takeover was still on the cards - and it was likely to be from parties who also significant resources of wealth.

22 July 2016: Could Albion follow Wolves into the hands of a Chinese buyer?

Another Chinese conglomerate, the Wanda Group, responded to links they were the ones in line to purchase West Brom with a non-committal answer.

The multinational corporation, which counts China's richest man Wang Jianlin as its chairman, did not rule out a purchase in the future, though.

22 July 2016: Wanda Group respond to West Brom takeover speculation.

Pulis himself hinted that a takeover at the club could come soon, just as was due to speak to Peace about renewing his contract, which has a year left to run.

25 July 2016: West Brom takeover could be close.

You certainly can't knock West Brom's ability to keep their dealings in house as, this morning, came the news they are to be sold to Lai and his company.

The sale was agreed over a month ago, on June 24, but the club have waited for regulatory and approval processes in China to be completed before an announcement.

The deal still needs to be ratified by the Financial Conduct Authority and the Premier League, but Peace has already said his goodbyes at the Hawthorns.

5 August 2016: West Brom to be taken over by Chinese investment group.

5 August 2016: A message from new owner Guochuan Lai to Baggies fans.

5 August 2016: Who is Guochuan Lai?

5 August 2016: New West Brom owner - 'I won't change club's ethos.'

5 August 2016: West Brom to be taken over by Chinese investment group.

5 August 2016: Jeremy Peace says goodbye in farewell message to West Brom fans.