West Bromwich Albion should be under new ownership by the end of the month after chairman Jeremy Peace revealed that exclusivity has been granted to one party interested in buying the Midlands club. Peace announced he was looking to sell the club in February and after months of discussions with investors from all over the world it now looks likely that the chairman and majority shareholder will relinquish control before the start of the new Premier League season.
The identity of the prospective owners remains unknown at this stage but there have been strong suggestions from inside and outside the club for a while that a Chinese consortium is leading the way. Investors from America, east Asia and Australia have also showed an interest in Albion, who are approaching their sixth successive season in the Premier League.
Writing in his programme notes for the final home game of last season, against Chelsea, Peace promised the takeover would not turn into a “long-running saga” and that there would be a “smooth transition” if he opted to sell up. Peace, who joined the Hawthorns board in 2000 and became chairman 18 months later, has been keen to ensure that the prospect of a takeover does not impact on the day-to-day running of the club and the transfer strategy for the new season.
In a statement released on the Albion website, Peace explained that the club were continuing to pursue new signings while the takeover progresses – Charlie Austin, Rickie Lambert and Matt Phillips are all targets – and said that the uncertainty about the future has not impacted on manager Tony Pulis’s plans for the new campaign.
The statement said: “Chairman Jeremy Peace today confirmed that exclusivity has been granted to one party interested in the purchase of West Bromwich Albion Holdings Ltd. This follows discussions with several interested parties in the wake of his decision earlier this year to consider strategic options for the future development and legacy of the club.
“This process should be completed by the end of this month and in the meantime the club wishes to assure supporters preparations for the new season will remain unaffected. The chairman, head coach Tony Pulis, chief executive Mark Jenkins and Richard Garlick, the director of football administration, have met to discuss and progress future transfer targets.
“They remain in constant dialogue over the reshaping of the first-team squad for the 2015-16 Barclays Premier League campaign.”
