For a brief period on Saturday, January 13, during the Baggies’ 4-1 victory over Blackburn Rovers, The Hawthorns was filled with calls of “stand up if you want Lai out,” taking a cue from Manchester United’s cries of “Glazers out.”
Reporting for The Athletic [15 January], Steve Madeley wrote: “Three groups are thought to be squarely in the frame.
“One is led by Manchester-based lawyer Chris Farnell and Egyptian investor Mohamed Elkashashy and includes local businessman Alex Hearn, whose company, Warmfront, is owed £2m by Albion in a loan, due for repayment next month, which is secured against club shares.
“In the event of a takeover, Hearn is happy to convert that debt into equity.
With Hearn happy to convert the debt into equity, it seems like the most straightforward option for the Baggies.
Despite that, US businessman Shilen Patel is currently the frontrunner to take over the club, and any due diligence will reveal payments that need to be made behind the scenes.
While this was encouraging news in the middle of January, there seems to be little update since which will be a worrying prospect with repayments needing to be made in the coming weeks.
It is evident from the club’s official announcement in November that they have acquired a new loan from MSD UK Holdings Limited in order to maintain operations. As such, the current method the club is being run cannot continue.
Even while it appears far from teams like Bury and Macclesfield Town, or even Derby County’s recent financial difficulties, supporters will be aware of the danger involved with Lai remaining for an extended period of time.
