According to the newspaper’s online story from September 29, Mark Miles contacted West Bromwich Albion Group, the club’s parent business, to inquire about the possibility of Guochuan Lai’s Hong Kong-based company Wisdom Smart paying the Baggies’ debt.
West Brom provided the loan two years ago to assist Lai’s other business endeavors during the pandemic, but it hasn’t been repaid to the team.
The burden on West Brom’s finances is still present, so getting their $5 million back would go a long way toward easing it.
Every dollar counts at the Hawthorns, according to iNews, who made it quite plain that the Baggies must sell playing personnel in order to keep the club running.
Lai has repeatedly stated the loan and accompanying interest will be repaid to the club, but this has not yet happened, which will be frustrating for the West Brom board of directors.
Even after Lai’s connection with the Baggies for more than seven years, West Brom is still available for sale. Miles stated that the club is in discussions about a prospective takeover with “several interested parties” at the bargaining table, according to The Express and Star (26 September).
Controlling stakeholder Lai, who paid £200 million for 88 percent of the club in 2016, is keen to part ways and content to lose money on his investment. At this time, the club is worth £35 million.
Fortunately for Baggies supporters, the team has played some decent football. They will be eager to improve from their current position in 13th place, but only two losses so far this year and a convincing victory over Middlesbrough demonstrate that all is not yet lost.
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