Sources: £100m West Brom takeover update - Guochuan Lai in advanced talks
West Brom owner Guochuan Lai will hold out for bids over £100million to sell his majority stake, Football Insider understands.
The Baggies are currently in advanced talks with a consortium over minority investment in the club.
According to The Athletic, the investment group includes Egyptian businessman Mohamed Elkashashy and Manchester-based sports lawyer Chris Farnell.
The duo have previously been linked with bids for Charlton Athletic and Burnley, but they have now turned their attention towards acquiring a stake in West Brom this summer.
Current talks between the parties are over minority investment in the club, but their investment plan could eventually lead to a full takeover.
Speaking to Football Insider, football finance expert Kieran Maguire warned of the “tawdry” group associated with West Brom takeover talks.
Baggies owner Lai has previously held talks over selling the club, with an American consortium discussing a potential £150million deal in 2020.
But Football Insider sources understand that Lai would only be willing to accept bids of over £100million to surrender his majority stake in the club.
Lai purchased Jeremy Peace’s 88 per cent stake in the club for a fee between £175million and £200million in 2016, and he is unwilling to accept such a drastic loss on his investment.
An initial minority investment with incremental increases in shares, like seen at Leeds United with the 49ers Enterprises, remains a possible solution in the takeover talks.