According to Football Insider, the West Brom takeover process is expected to quicken after Guochuan Lai reduced his asking price.
The Baggies owner is willing to sell the club this season and has set an initial asking price of £50 million.
It is thought that negotiations with potential buyers from the United States and the Middle East are still ongoing.
Albion managing director Mark Miles recently announced that he is now directly working on the club’s sale with director Xu Ke.
Football Insider revealed last month (23 September) that West Brom executives are growing optimistic about a takeover transaction this year.
According to the Telegraph, the Baggies will face a January ‘fire sale’ if a buyout is not completed before the transfer window opens.
The club is in financial trouble and was forced to sell a number of first-team players over the summer, including Dara O’Shea for less than his release clause.
The termination of parachute payments last season left the club in the Championship with a limited budget.
Lai has since reduced his asking price from £50 million to £35 million in an effort to speed up the transaction.
Lai expects to lose £165 million on the club following his £200 million takeover in 2016.
The Chinese businessman bought Jeremy Peace’s 88 percent interest in the Premier League club, but the value has dropped since the club’s relegation in 2018.
In other developments, West Brom takeover update: Kieran Maguire believes Guochuan Lai is ‘living in a fantasy world’
Leave a Reply