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West Bromwich Albion Sold To Chinese Investment Company

West Bromwich Albion have announced that a deal has been to sell the club to a Chinese investment group headed by Guochuan Lai.

The 42-year-old entrepreneur is the controlling shareholder in Yunyi Guokai (Shanghai) Sports Development Limited which will acquire Albion and usher in an 'exciting new phase of the Club’s development', subject to approval of the deal by the Financial Conduct Authority and the Premier League.

The sale was agreed on 24 June since which time both parties have waited for regulatory and approval processes in China to be completed before making the agreement public. Completion is expected on approval of the FCA and Premier League, whose reviews are currently underway. Lai said:

“I am excited and privileged to have the chance to become the new owner of this great Club. My immediate priorities will be to maintain the Club’s stable structure, respecting its well-run nature and its heritage. I have no intention of changing the Club’s ethos."

As outgoing Chairman, Peace added: “I believe this deal will enable Albion to build on the strong, sustainable foundations that have been the cornerstone of the Club’s progress." 

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