Chinese owner Guochuan Lai is at West Brom for the long term
Chinese owner Guochuan Lai is staying with Albion for the long term, chief executive Martin Goodman has confirmed.
The eco-town entrepreneur, who bought an 88 per cent majority stake off Jeremy Peace last August for more than £175m, recently rejected an offer above £200m from an unknown American investor.
After encouraging its businesses to invest in overseas football, the Chinese government is now reigning in spending abroad, but Goodman is confident Lai has no plans to jump ship.
Lai’s model is reliant on the cash Albion earn themselves, negating his government’s clamp down, and Goodman says the recent rejection is a sign of his dedication to the Baggies.
“It was rejected and he decided to maintain his majority,” said Goodman. “I think it was an indication of his commitment. Lai is here for the forseeable future.”
Albion’s owner is currently in the process of building the first of six eco-towns in China under the West Bromwich Albion name.
He benefits from being Baggies owner by winning these lucrative contracts, but Goodman reckons the eco-towns will eventually benefit the club too.
“It has the potential to be very good for us,” he said. “But it’s early days to determine that.
"The first one is in the process of being designed and built at the moment. We believe in his business model, we think it’s a good one.”
It is hoped greater exposure in the emerging market of China may bring about more commercial deals that will bolster the club’s finances.
And helping deliver coaching to Chinese academies in Lai’s eco-towns will boost Albion’s profile.
“China as a nation wants to improve its football from grassroots upwards,” said Goodman.
“I see West Brom being part of the development in each of the towns with the academies that are lined up to be built in them.”
The Chinese government has also slapped a hefty 100 per cent tax on Chinese Super League teams purchasing overseas stars.
Now, if a CSL team wants to buy an international player, they have to match the transfer fee with another payment to the government that will be reinvested in grassroots football.
Albion rejected a £32million bid from Tianjin Quanjian for Salomon Rondon in January before these restrictions were in place.
They do not apply to Chinese striker Yuning Zhang, who the Baggies bought in the summer from Vitesse Arnhem for £7m and sent out on loan to Werder Bremen for two years.
