According to the Express & Star, Shilen Patel and Guochuan Lai are in advanced talks over a takeover proposal at West Brom.
On Friday, February 9, the newspaper announced on its website that negotiations for a potential purchase had reached a “critical stage.” The controlling shareholder of the Baggies hopes to close a deal at The Hawthorns in a few weeks.
Although talks with American billionaire Patel have reportedly been going on for a few weeks, Lai is under growing pressure to sell, and the Armenian-backed Noah Football Group is still showing “serious interest.”
Although it appears that the negotiations are going way beyond a takeover agreement with Lai, West Brom supporters should exercise caution before getting too worked up before any agreements are made.
To ensure the club’s long-term viability and enable things to start progressing both on and off the pitch, the controlling shareholder must quickly come to an agreement.
Despite Noah Football Group’s interest, Patel, who is thought to be MSD Holdings’ favoured bidder, looks to be well ahead in the competition right now.
It’s unknown what happened to the signed letter Chris Farnell gave to Lai lately, in which he requested verification of cash totaling £110 million in order to acquire a minority position in the club.
Albion undoubtedly needs new funding and a takeover shortly, but the most recent news indicates that negotiations are progressing and a solution at The Hawthorns may be achieved before too long.
In other West Brom news, Warmfront Holdings has revealed that Guochuan Lai’s payback deadline has gone.
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