West Brom confirm takeover by Chinese investment group as chairman Jeremy Peace steps down

Peace will be replaced by former Blackburn chief John Williams after the club was sold to a group headed by 42-year-old Guochuan Lai

West Brom have announced the club is to be taken over by Chinese investors.

Chairman Jeremy Peace has been looking to sell the Baggies for some time but had been waiting for the right deal to come his way.

He has now agreed to sell parent company West Bromwich Albion Holdings to a group headed by Guochuan Lai.

Lai, 42, is the controlling shareholder in Yunyi Guokai Sports Development Limited which will acquire West Brom, subject to approval.

Peace is to step down following the takeover with former Blackburn chief John Williams replacing him.

Lai built his career aiding the development of Palm Eco-Town Development Company Limited into China’s largest landscape and design company. It now has a market value of around £1.8billion.

He said: “I am excited and privileged to have the chance to become the new owner of this great club.

“We have a strong squad, loyal fans and a unique culture. My immediate priorities will be to maintain the club’s stable structure, respecting its well-run nature and its heritage. I have no intention of changing the club’s ethos.

By HavaR

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West Bromwich is completely at the BOTTOM now


West Brom crisis deepens as players forced to apologise for ‘stealing taxi’ during warm-weather training in Barcelona

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West Bromwich Albion’s troubled season has been plunged into deeper crisis after four senior players allegedly hijacked a taxi during a drunken night out on the club’s mid-winter training camp in Barcelona.

Club captain Jonny Evans, Gareth Barry, Jake Livermore and Boaz Myhill have all made a grovelling apology for the bizarre incident which has heaped fresh embarrassment on the Premier League’s bottom club.

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West Brom the fourth Midlands club in Chinese hands Away from the traditional rivalry of the West Midlands’ clubs, there is now a new dimension to their competition after the Chinese takeover yesterday of West Bromwich Albion, in a deal thought to be worth about £150 million. Like Aston Villa and Wolverhampton Wanderers, along with Birmingham City to the east, West Brom are now in the hands of Chinese owners after confirmation that an investment group, Yunyi Guokai (Shanghai) Sports Development Limited, led by Guochuan Lai, an entrepreneur, has bought out Jeremy Peace. The sum paid is thought to be… Read more »