West Brom fans urged to stay patient over sale

Published on: 30 November 2023

Albion fans have witnessed just one home defeat at The Hawthorns this season

West Bromwich Albion fans group Action For Albion have called for Baggies supporters to stay patient as the reported proposed sale of the Championship club moves closer.

Albion released a statement on Monday to confirm officially for the first time that chairman Guochuan Lai is seeking new majority shareholders.

But things are currently going very well on the field for the Baggies.

And Action For Albion are keen that nothing should rock the boat in B71.

Following weeks of local and social media speculation, there are now three reported potential bidders, of which one is understood to be an outright favourite.

The Baggies' statement on Monday also revealed that the club has taken out a further loan with investment group MSD Holdings, on top of the four-year £20m loan taken out 11 months ago.

Ahead of Saturday's home game with Championship leaders Leicester City, a statement released by Action For Albion front man Ali Jones said: "This reiterates the need for a full and complete takeover as soon as is practicably possible.

"Although this news may be understandable in the context of reported positive negotiations for new owners, increased debt is clearly a risk for a club in our position, so we will be seeking dialogue with the club to more fully understand this development and its implications.

"Saturday's result underlines that on the field we are under the correct stewardship.

"Results and performances on the pitch have been very positive so far this season, in large part due to Carlos Corberan's leadership, generating as good an atmosphere and bond between the club, players and fans that we have seen in modern times.

Carlos Corberan's Albion have won exactly half of their 52 games since he took charge in October 2022

"Carlos has provided a platform from which this club can grow and prosper. He and our fans deserve owners that can provide financial stability, but also owners that share bolder ambitions for our future.

"It is our belief that we should give the time to ensure that negotiations are concluded as quickly as possible.

"We urge all our fans to continue to focus on fully supporting the manager and players, as they have done so brilliantly this season."

Albion are now fifth in the Championship and, although they are 10 points off second-placed Ipswich Town, who are a further point adrift of Leicester, Corberan's Baggies have won five times in six matches to emerge as serious contenders to return to English football's top flight for the first time since 2021.

Following Lai's continued failure to repay a private £5m loan made to one of his other companies during the Covid pandemic, Albion fans organised several protests last season.

But they vowed at the start of this season to keep any protests "legal and peaceful".

Chairman Lai's loan, first listed in Albion's accounts to June 2021, was originally due to be repaid in September 2022, with £50,000 interest.

It was then delayed until 31 December, 2022, the same month that Albion took out their loan with the Cardiff-based UK holding company of US investment group MSD.

Source: bbc.com

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