West Brom step up search for new owner to prevent January sell-off

West Brom owner Guochuan Lai is trying to find a buyer before the end of the year. Photo: Getty Images/Tony Marshall

West Bromwich Albion are stepping up their search for a new owner to avoid selling off players in the January transfer window.

West Brom are under increasing pressure to raise funds and the Championship club is in talks with a number of players. potential buyers will complete a £50 million takeover deal before the end of the year.

Parties from the Americas and the Middle East have held preliminary talks with the club over the deal and negotiations are said to be ongoing.< /p>< p>It is understood the club's financial woes are deepening after failing to raise sufficient funds by selling players in the summer transfer window.

Dara O'Shea was sold to Burnley for £7 million — figure below his release clause — Jake Livermore's high-money contract expired and a number of players, including Karlan Grant, were loaned out, but there were no other major departures.

Middlesbrough have made a £3 million bid for striker Jed Wallace, while Stoke City have made at least two bids for striker Brandon Thomas-Asante. Shortly before the window closed, Coventry City were also pursuing midfielder John Swift.

However, the decision was made to reject offers that were considered ludicrous and ensure Carlos Corberan's side remained competitive.

As a result, there are now significant concerns about future cash flows with the club already under sale pressure. players when the transfer window opens in January.

Unpopular West Brom owner Guochuan Lai is now trying to find a buyer for the club before the end of the year to prevent further destruction of Corberan's team.

Director Xu Ke's WBA Group is leading the sale process and negotiations with some parties were conducted in person. West Brom have been offered for £50-60 million but there are no parties close to carrying out due diligence at this stage.

Lai, who lives in China, has refused to invest his own money and wants the club to be self-sustaining. He has also failed to repay a £5m loan and is under growing pressure from supporters to sell.

West Brom agreed a £20m loan from a US private equity firm in January MSD, which is spread over four years. The loan was to cover «running costs», with parachute payments from the Premier League ending this summer.

Due to limited finances, Albion only signed three players during the summer transfer window, two of them. these were loan signings, with the other joining as a free agent. There were also talks with defender Kyle Bartley over a possible £35,000-a-week contract settlement, but he remained at The Hawthorns.

West Brom are currently 13th in the Championship table and Wednesday will face Watford. night.