Friday, 5 August 2016

WestBrom Albion FC sold : Read who bought it

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Chinese Investment group have agreed to buy Westbrom Albion FC.


Guardian reports that Yunyi Guoka a sports development company have agreed to buy the club. It was put in the market last year for $197.1million(177 euros).

Chinese entrepreneur Guochuan Lai will become the new owner and has expressed his excitement on the new development as the new owner of the club. He reassured fans that he had no intention of changing the club's ethos.

He will join the league of Chinese investors who bought over Aston Villa and Wolverhampton Wanderers this year. Birmingham City and other Midlands clubs are currently in talks with Asian investors .

According to FOUR FOURTWO Lai's Chinese construction company is worth £1.8billion according to a West Brom statement, which confirmed that the 42-year-old will take charge, pending approval from the Financial Conduct Authority and Premier League.
He further stressed his excitement with this statement 'I am excited and privileged to have the chance to become the new owner of this great club," Lai commented on the takeover.

"We have a strong squad, loyal fans and a unique culture. The deal is subject to approval from Britain’s Financial Conduct Authority and the Premier League.

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