West Bromwich Albion had effectively been in decline ever since the club was sold to a Chinese consortium in August 2016, paying a figure north of £200m to buy former owner Jeremy Peace’s stake. Controlling shareholder Guochuan Lai’s ownership was fairly disastrous for the club, but his unloved tenure finally came to an end after Bilkul Football WBA, a company ultimately owned by Florida-based entrepreneur Shilen Patel and his father Dr Kiran Patel, acquired an 87.8% shareholding in West Bromwich Albion Group Limited, the parent company of West Bromwich Albion Football Club. This change in ownership was urgently required, due to the numerous financial problems facing West Brom, including growing high-interest debt and serious cash flow concerns, following years of no investment from the former owner. Indeed, West Brom’s auditors had already rung the alarm bell in the 2021/22 accounts when they cast doubt on the club’s ability to continue as a going concern without making player s
Long drawn out saga doesn't do the 4-5 yrs of misery justice. Too many false dawns to treat this seriously but when it does happen CAFC fans will have one hell of a party.
ReplyDeleteI think it should be before the window opens, it's so important to hang onto our playing assets, but we have had so many promises , I won't get excited until the man on the Tele says "watcha cobbers " eres the new chairman.
ReplyDeleteThe fact that Lee Bowyer has brought it up and the reconstitution of the consortium makes me more optimistic.
ReplyDeleteLet's hope it all goes well so Lee has some money for the upcoming window
DeleteMy only concern is that it has taken such a long time to get this far, whatever the current owner has done wrong he does pay the bills , and the academy is as strong as it ever has been ,I have supported Charlton since 1961 and believe me we have been in some almighty financial scrapes , none more so than the early 1980s when the club came within minutes of liquidation , so yes I welcome a change of ownership , but one that can take a period of loss making , but would pull out all the stops when chances of promotion seem possible , and we as supporters don't have to continually fear transfer windows . All my years as a Charlton supporter we have always sold are best players, this is just in my time as a supporter ,
ReplyDeleteMarvin Hinton , Mike Bailey , Alan Campbell ,Len Glover , Paul Went , Billy Bonds,Derek Hales, Mike Flanagan, Paul Walsh , Paul Elliot, Robert Lee, Scot Parker, Scot Minto , just a sample , at the time they were sold they were arguably our top players , and it has been no different under the current regime no list required, just want the club to be taken over by people who can truly raise our profile instead of more of the same , the facts are that we are a loss making football club. There I've said it.