Adrian Goldberg claims that a “crazy” situation could occur next week in which West Brom could become partially owned by Alex Hearn, an Aston Villa fan.
The former BBC broadcaster noted that a loan repayment is due to a Hearn-owned company on February 8th on The Liquidator Podcast [4 February, 24 minutes and 30 seconds].
Hearn is entitled to turn the debt into shares and continue working behind the scenes at The Hawthorns if Albion is unable to make that repayment.
“We were informed that West Bromwich Albion Holdings, Guochuan Lai’s company, has until February 8 to repay a £2 million loan from Warmfront, which is owned by Aston Villa supporter Alex Hearn,” Goldberg stated.
“That loan has an unbelievable five percent monthly interest rate. It was suggested that Hearn turn the loan into shares in West Brom Holdings, which hold 88% of West Bromwich Albion, in the event that it is not repaid.
It raises the idea that a Villa supporter owns a portion in West Brom Holdings. It’s simply absurd. Keep an eye on the deadline of February 8—because it has been made public—as things might get underway.
As of the last information we have, American businessman Shilen Patel is the front-runner to succeed Lai at The Hawthorns.
But this isn’t the first time there has been radio quiet recently, and it’s unclear how far along the conversations are.
If Patel is still a ways away from writing a cheque, what happens next week could have a significant impact on the Baggies.
The decision as to what happens next is essentially up to Hearn, or at the very least Warmfront, assuming there isn’t enough money to pay back the loan.
While it would be “crazy” to have a Villa fan involved in the club’s operations behind the scenes, it is a possibility that needs to be given careful thought.
It’s possible that more details about Patel and the takeover will become available in the next several days, as February 8th approaches.
Maybe not, though, if the last six months or so provide any indication.
Chris Lepkowski expressed his “concern” about the events at The Hawthorns in other West Brom stories.
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