CLUB FOR SALE!!! Kanu's Former Club Up For Sale As Owner Rushes To Sell Club Amidst Looming Fears Of Relegation
Jan. 14, 2021
West Brom owner, Lai Guochuam is desperate to sell his club probably next week amid growing fears of the Premier League club falling back into relegation.
The fears stemmed from the club’s bottom-placed position in the Premier League in their last three seasons and they currently sit six points down from safety at 19th place with 8 points and just one win in 17 matches.
Nigerian football icon, Nwankwor Kanu played for the club bvetween 2004 and 2006 right after he left Arsenal on a free transfer.
Kanu made a total of 58 appearances – 16 of them as a substitute – and scored nine goals and succeded in keeping them away from relegation for two seasons.
They are just above bottom-placed Sheffield United who have just 5 points after playing 18 matches with one win to their belt.
Presently, the club is also involved in a three-way takeover battle as owner, Guochuan Lai stands eager to sell on or before the end of the season.
Guochuan, the Chinese businessman, who bought the Baggies from Jeremy Peace in 2016, is targeting £200million, but has yet to receive any offers. He is struggling to recoup the £125million he paid for 88 per cent of West Brom’s shares five years ago.
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The club’s income has been decimated by the impact of the covid-19 pandemic and as every other club, they are facing the prospect of a year without gate receipts.
American based businessman, Mark Campbell who held talks about buying Sunderland two years ago is understood to be fronting one of the consortiums with West Brom hoping to have identified a preferred bidder by next week.
Guochan understands that a highly costly relegation to the Championship would be a major threat to the club, hence the urgency to sell the club now.
Sam Allerdyce was brought to replace the sacked Slaven Billic last month but battling to a 1-1 draw with Liverpool at Anfield is the only point West Brom in recent time has earned in Allardyce’s four games as manager so far.
It is being reported that a consortium based in the US have touched base with West Brom about investing in the club or buying it outright but Lai's £150m price for the club is too high.
Not unusually, the group of investors is reportedly being helped by an experienced adviser who is knowledgeable of the Premier League.
Albion, who were criticised by fans for not investing as heavily as they would have liked in the summer, are winless in the Premier League after nine matches with only three points to their name.
West Brom supporters could be in for a long wait with the consortium potentially holding fire for now in the hope that Lai's asking price drops.
Nevertheless they will be an attractive proposition for investors given their recent Premier League history, which is what attracted Lai to the club in the first place.
Lai is the controlling shareholder and director of private investment firm Yunyi Guokai (Shanghai) Sports Development Limited.
Lai gained his wealth through his position as general manager and shareholder of Palm Eco-Town Development Company, which he developed from a small cannabis plant nursery business into China's largest landscape development and construction firm over his two decade long stewardship.
Following his departure from Palm Lai has focused on private investment, but remains heavily connected to the company and serves as a director of a number of its subsidiaries.
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Lai is largely a private person, however according to a report by the Birmingham Post, a conservative estimate of his total wealth is £2.8 billion.
He resides in Guangzhou, a city in the Guangdong province of China, and only attends West Bromwich Albion club matches occasionally, leaving the day-to-day running of the club in the hands of long-term associates Li Piyue, who serves as the club's chairman, and Ke Xu, who is Chief Executive Officer
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