Baggies takeover moving quickly

8 Sep

West Brom are closer to finalising the deal for Chinese businessman Guochuan Lai to take charge after getting Premier League approval.

West Brom: Baggies takeover moving quicklyWest Brom: Baggies takeover moving quickly

The incoming owner has passed the rigorous Owners’ and Directors’ Test as his new company Yunyi Guokai Sports Development Ltd also got the green light from the governing body.

Lai still needs the Financial Conduct Authority to ratify the takeover but it is expected that he will be in a position to complete the deal in the coming weeks.

Initial reports suggested that Lai would finalise the takeover by the start of October but after passing the checks in quick fashion it is likely to be rubber-stamped this month.

A Premier League spokesperson said: “I can confirm the Owners’ and Directors’ Test, amongst other rules, has been applied.

“It’s a rigorous process that goes above and beyond UK law.

“Any further processes regarding the proposed takeover are a matter for the club.”

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