Advertising

West Brom owners reject £200million US takeover bid

By Matt Maher | West Bromwich Albion | Published: | Last Updated:

Albion's owners have rejected a shock £200million-plus takeover bid from a mystery US investor, it has emerged.

The Hawthorns

It is understood owner Guochuan Lai was approached by an unnamed businessman keen on buying the Baggies.

But China-based Lai, who became major shareholder at The Hawthorns last year when he purchased Jeremy Peace’s 88 per cent stake, turned down the lucrative offer which it is believed valued the club at more than £200million.

In a statement to US news agency Bloomberg, which first broke news of the approach on Friday night, current Albion chairman John Williams said: “My information is that there was an enquiry.

“Our majority shareholder made it clear that he wanted to retain control of the club and continue his plans for its ongoing development.”

Bloomberg claim the approach was made to an associate at Lai’s Yunyi Guokai Shanghai Sports Development company, the group which took over the Baggies in July last year.

Lai became the third Chinese businessman to invest in Midlands football following takeovers at Villa and Wolves and has maintained a relatively low profile, tasking Williams with the day-to-day running of the club.

Palm, another company in which he holds an interest, became the Baggies main shirt sponsor last summer, while close to £40million was spent revamping the squad following last season’s 10th-placed finish in the Premier League.

Matt Maher

By Matt Maher
Football MMPJ - @mjmarr_star

Sports journalist for the Express & Star

Advertising

Top Stories

Advertising

More from the Express & Star

Advertising

UK & International News