A significant update has emerged regarding the potential takeover of West Brom in the near future, courtesy of reliable reporter Lewis Cox.
West Brom takeover latest
The Baggies are battling hard to seal promotion from the Championship to the Premier League this season, sitting in the play-off positions as things stand.
There has been a big off-field distraction for Carlos Corberan and his players to deal with, however, with ongoing talk surrounding the proposed takeover of West Brom. It is a saga that continues to rumble on at a time when many supporters want to see Guochuan Lai's reign as owner come to an end, heralding the start of a new era at the club.
A recent report claimed that Aston Villa supporter Alex Hearn could become a part-owner of the Baggies, due to an unpaid loan to his company, as journalist Adrian Goldberg has explained:
"The rate of interest on that loan is five-per-cent a month – an incredible rate. West Brom Holdings own 88 per cent of West Bromwich Albion, and the suggestion was made that if the loan isn’t repaid, Hearn could convert that loan into shares in West Brom Holdings. It opens the possibility that West Brom Holdings is part-owned by a Villa fan. It’s just crazy. Keep an eye on that February 8 deadline – things may start moving, because that’s a publicly notified deadline."
Now, another update regarding the situation has dropped – one that suggests things could now be moving at a promising pace in terms of striking a deal.
Key West Brom takeover update
According to The Express & Star's Cox, the sale of West Brom could now be completed in a matter of weeks, with talks ongoing between Lai and Dr Shilen Patel.
"American businessman Dr Shilen Patel remains the frontrunner and is understood to be the preferred bidder of MSD Holdings, the firm which has loaned the Baggies around £28million since the start of last year.
"Negotiations with Florida-based Patel have been ongoing for a number of weeks and are understood to be at an advanced stage, though he is not the only contender with the Armenian-backed Noah Football Group also retaining a serious interest."
It is certainly encouraging to hear that talks are now advanced with Patel, assuming he is now the frontrunner to complete a purchase of West Brom. Fans will just be desperate to see things sorted sooner rather than later.
The quicker it happens, the stronger the Baggies' financial situation should hopefully look, generating more funds for new signings during the summer transfer window, and it will also allow Corberan and his squad to feel more settled, focusing on the job in hand of getting back into the Premier League.
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Whoever ends up coming in, it is essential that they are considered the right person, with a wrong decision having the potential to set West Brom back greatly.