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+--- Thread: Takeover (/showthread.php?tid=31655)
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RE: Takeover - Fulham Fallout - 02-23-2024
(02-23-2024, 01:52 PM)Pragmatist Wrote:(02-23-2024, 01:46 PM)CaptainFantastico Wrote: I think you can safely assume he has settled with MSD
Agreed.
And of the £10m being paid over 18 months, Lai has to repay Warmfront
You mean “should”
Or send warmfront a share certificate for WBA Holdings Ltd, which is of course, the security they are entitled to, as that was the security taken for the loan.
RE: Takeover - Jacko - 02-23-2024
Last Thursday, West Bromwich Albion announced that Florida-based businessman Shilen Patel has agreed to buy them from current owner Guochuan Lai.
This news was joyfully greeted by the Championship club’s fans as Lai’s clueless spell in charge has seen two relegations, albeit with one promotion in between, and a massive deterioration in the club’s finances. So much so that a once well-run club was heading towards bankruptcy.
Perhaps the best evidence of this narrowly avoided crash can be seen in the return on investment Lai is getting. The Chinese businessman paid about £200million for what was a Premier League club in 2016.
Patel is paying him only £10m guaranteed – £2.5m on completion, £2.5m in August and £5.5m in August 2025.
There is the possibility of bonus payments if West Brom are promoted. Go up this season, and they are currently fifth, and Patel will pay Lai an extra £18m. Promotion next season would trigger a £10m payment, £5m the following season and £2m if West Brom have to wait until the 2026-27 season.
The real benefit to Lai is that funding West Brom’s annual losses and repaying their debts are now somebody else’s problems.
The Albion excerpt from Shrimper's Athletic column today.
RE: Takeover - SausEggBaton - 02-23-2024
I think the above clearly shows that Lai is not a very good businessman.
RE: Takeover - Johnny akes - 02-23-2024
“The real benefit to Lai is that funding West Brom’s annual losses and repaying their debts are now somebody else’s problems.”
Except he isn’t doing either. If this payment structure is the only way he can see any kind of return, it makes you wonder how bad the other offers were!
RE: Takeover - baggpuss - 02-23-2024
Do you think we will put in a cheeky bid for that Mbappé fella now that our woes are behind us?
RE: Takeover - Kit Kat Chunky - 02-23-2024
(02-23-2024, 01:46 PM)CaptainFantastico Wrote: I think you can safely assume he has settled with MSD
Until the DS1 is lodged at the Land Registry, I won't assume anything!
RE: Takeover - MGalea - 02-23-2024
It makes it clear why Farnell and Sockless Seal thought they had a chance.
It also makes it seem more likely to me that Lai will try and do a runner on repaying said Sockless Seal's money.
RE: Takeover - Kit Kat Chunky - 02-23-2024
(02-23-2024, 03:20 PM)MGalea Wrote: It makes it clear why Farnell and Sockless Seal thought they had a chance.
It also makes it seem more likely to me that Lai will try and do a runner on repaying said Sockless Seal's money.
Unless the Sockless Seal fancies the Chinese courts, then he is in for a battle. Obtaining a ruling in a UK court will have little meaning or benefit for him.
RE: Takeover - Psalm23 - 02-23-2024
https://www.wba.co.uk/news/club-statement-progress-update-west-bromwich-albion-takeover
RE: Takeover - CorbsIsMagic - 02-23-2024
Joe Chapman of the Bham Mail has also added on twitter that time zones have played a part in the small delay