November 26 – The trend of Chinese investors exiting European club ownership looks set to continue if West Bromwich Albion owner Guochuan Lai (pictured) can complete a reported £150 million deal with a US consortium.
Premier League rivals Southampton, owned by Jisheng Gao, are also for sale with US sports investor, Joe daGrosa, believed to have had a window of exclusivity to close a £200 million acquisition, but who has so far been unable to complete the financing.
Lai bought 88% of West Brom from former majority owner Jeremy Peace in September 2016 for £175 million. At the time the club were in the Premier League but were relegated in the 2017/18 season. They won promotion back last season after two seasons in the Championship.
West Brom are currently in the relegation zone which in itself could hold up any deal completion until it becomes clear what their final league position will be.
The US investors are understood to be looking for a discount on the £150 million. Premier League Burnley are also understood to be in discussion with US investors for a price tag of about £120 million.
Lai’s business wealth was built on the growth of landscaping company Palm which is valued at £1.8 billion on the Chinese stock exchange. West Brom’s ownership is held by the Yunyi Guokai (Shanghai) Sports Development Limited, headed by Lai. Palm is an investor in this company.
If Lai and Gao manage to complete their sales then Aston Villa, via Tony Xia, and Wolves, through Hong Kong-listed Fosun International, will be the only Chinese-owned clubs in the Premier League.
Contact the writer of this story at moc.l1713491341labto1713491341ofdlr1713491341owedi1713491341sni@n1713491341osloh1713491341cin.l1713491341uap1713491341