West Brom shareholder fury as £5million Guochuan Lai loan still not repaid

As the year enters its third month, the £4.95million figure, taken in March 2021, and interest that has taken it beyond £5m has yet to be repaid into the club’s coffers.

That is despite China-based Lai ensuring Albion officials the funds would be repaid ‘early in the new year’ after he missed a second loan deadline repayment of December 31, 2022.

That has left the Baggies fanbase furious as protests against Lai continue. Protest group Action for Albion have organised a march to The Hawthorns for the home game against Huddersfield on Saturday week, with more details to be confirmed.

A February update to Shareholders for Albion members, seen by the Express & Star, read: “We continue to monitor developments on the financial side generally, taking action where required.

“For legal reasons, I cannot discuss that further at present.

“What I can say is that we are obviously extremely disappointed that the Wisdom Smart loan has still not been repaid.

“We have clearly passed ‘early in the New Year,’ so it appears that we have been lied to again by our majority shareholders.”

The Express & Star has previously reported shareholders have called for an earliest possible release of the club accounts for year ended June 2022 and chief executive Ron Gourlay has confirmed the figures will be filed by no later than March 31.

It is also understood shareholders remain frustrated by a lack of communication in response to enquiries into how the club are investigating the delayed repayment.

Shareholders have demanded answers on what steps the club’s finance director Henry Pu, as well as lawyers, are taking to ensure the funds return to club accounts.

Gourlay, the club’s CEO, has said he chases updates on the matter on a daily basis and is in contact with Lai, through Hawthorns-based director Xu Ke (Ken).

Gourlay has stated on several occasion the money will be returned as a matter of when and not if.