West Brom Hold UK£150 Million (AUD$272 Million) Takeover Talks With American Consortium
nglish top-flight football club, West Bromwich Albion, have held talks with an American consortium over a potential UK£150 million (AUD$272 million) takeover, according to The Daily Telegraph.
Chinese billionaire, Guochuan Lai, who is a West Brom controlling shareholder, reportedly rejected an offer earlier this year, but negotiations purportedly remain open with the group over either a full takeover or a minority stake of up to 15%.
The Daily Telegraph also reported the American consortium are mulling another bid should Lai lower his demands.
With West Brom sitting in the relegation zone in the top-flight tier of English football, the UK£150 million (AUD$272 million) asking price is considered too high while the team continues to struggle, still yet to win a game after nine matches.
As a result, the consortium could instead opt to wait until later in the campaign when West Brom’s league position becomes clearer.
Other parties have also shown interest and held initial talks with the club over the past 12 months, according to The Telegraph.
Lai purchased the Midlands-based club back in September 2016 for around UK£200 million (AUD$363 million) but his tenure as owner has been criticised by fans over his perceived lack of investment.