Mark Miles has shared an update on a potential West Brom takeover, suggesting that any investment into the Baggies will be completed before the end of the season.
The Hawthorns club are reportedly talking to several potential buyers both in the Middle East and the United States with those currently in charge of the club hoping to complete the sale before the end of 2023 having originally hoped for £50million [Daily Mail, 20 September].
Having confirmed that talks had taken place with a potential buyer late in September [Express & Star, 26 September] over a potential £35million sale, managing director Miles shared an update on the process.
As quoted in the Albion Assembly Meeting Minutes (12 October) it was said: “MM confirmed there were currently NDAs in place which limited what he could say regarding investment/sale.
“However, he also confirmed he is speaking to a number of parties interested in investing in the club and expects this process to have concluded no later than the end of the season. MM stated he is aware of several credible parties and is in regular dialogue with the owner regarding this subject.
“Any decision relating to the sale of shares will be made by Guochuan Lai, but MM will make recommendations to him.”
Things seem to finally be moving in the right direction at The Hawthorns but there is still a long way to go before there is a change of ownership to get the Baggies in a more positive place financially after a difficult few years.
Carlos Coberan’s hands have been tied in recent transfer windows with the former Huddersfield boss being limited to free-agent deals and loan signings in the summer and while he is getting good results out of his side, he needs investment sooner rather than later.
Teams in the Championship are incredibly well equipped financially and the longer that the Baggies stand still, the further the teams who are chasing the play-off positions get ahead of them, the more money a new owner will have to invest.
Hopefully, a solution can be found sooner rather than later and the end of the season deadline is more of a safety net rather than a guaranteed time frame as Albion have a real chance of challenging for the play-offs this season.
