Guochuan Lai will reportedly complete his takeover of West Brom in the next 24 hours.
The Birmingham Mail have reported that the relevant authorities have now ratified the deal, with the Premier League and the Financial Conduct Authority both happy that the takeover adheres to their rules following a series of checks.
Guochuan agreed to buy Jeremy Peace’s 88% controlling stake in the club for a fee in the region of £175million in June and initially it had been thought the takeover would be completed by mid-October but the process has been quicker than expected.
Albion may now have a new owner in place before they host West Ham this weekend.
There remains speculation over whether or not Guochuan will stick with Tony Pulis as boss or seek a replacement, while the current head coach has stressed the club must invest in the squad in January if they are to avoid a season of struggle.