West Bromwich Albion’s takeover by Chinese investment group Yunyi Guokai (Shanghai) Sports Development Ltd has been completed, the Premier League club said in a statement on Thursday.
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The deal was ratified after the Financial Conduct Authority and the Premier League made the routine checks and were satisfied the takeover adheres to the rules and regulations.
West Brom youth boss Steve Hopcroft says teenager Izzy Brown’s move to Chelsea three years ago still rankles with him as “the one that got away”.
The Premier League has also had its Owners’ and Directors’ Test satisfied after the Baggies agreed to sell the club in August.
West Bromwich Albion manager Tony Pulis’ future has plunged into further uncertainty as it emerged the troubled Midlands club have actively been seeking his replacement since the end of last season.
Albion issued an announcement this afternoon that Lai’s Chinese consortium has completed the purchase of the club from Jeremy Peace.
“I’ve been here for 12 years and there has been a great deal of work put in to get the club to the point where it is now playing quality academy graduates in the first team”.
Peace became chairman in 2002 and had been looking for around £200million for West Brom after coming close to selling the club last summer.
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Peace, who still advises WBA, is a huge admirer of Hodgson following the 69-year-old’s stint at the Hawthorns between 2011-2012 – a stretch that ultimately led to his appointment by the FA. “Guochuan, John Williams, my board colleagues, our staff and supporters have my very best wishes for the future”.
