{"id":292559,"date":"2023-09-29T18:34:48","date_gmt":"2023-09-29T18:34:48","guid":{"rendered":"https:\/\/tellmysport.com\/?p=292559"},"modified":"2023-09-29T18:34:48","modified_gmt":"2023-09-29T18:34:48","slug":"west-brom-look-to-recall-5m-loan-from-owner-guochuan-lais-company","status":"publish","type":"post","link":"https:\/\/tellmysport.com\/soccer\/west-brom-look-to-recall-5m-loan-from-owner-guochuan-lais-company\/","title":{"rendered":"West Brom &apos;look to recall \u00a35m loan&apos; from owner Guochuan Lai&apos;s company"},"content":{"rendered":"<h1>West Brom &#8216;looking to recall \u00a35m loan&#8217; from owner Guochuan Lai&#8217;s company amid growing financial problems, with the club reportedly needing to &#8216;sell players in order to stay operational&#8217;<\/h1>\n<ul>\n<li><strong>West Brom owner\u00a0Guochuan Lai loaned \u00a35m to one of his companies in 2021<\/strong><\/li>\n<li><strong>The Club has now asked the company &#8216;when and if the money will be returned&#8217;\u00a0<\/strong><\/li>\n<li><strong>Mail Sport&#8217;s new WhatsApp Channel: Get the breaking news and exclusives here\u00a0<\/strong><\/li>\n<\/ul>\n<p>West Bromwich Albion have &#8216;asked a company that owes them \u00a35 million when and if the loan will be repaid&#8217; amid growing financial problems at the club, it has been reported.<\/p>\n<p>Guochuan Lai, owner of the Midlands club since 2016, loaned the money two years ago to Wisdom Smart, a Hong Kong based company which he also owns.<\/p>\n<p>It aimed to help Lai&#8217;s other businesses recover after fallout from the pandemic, but the club is yet to see the money returned.<\/p>\n<p>The loan was effectively written off by auditors earlier this year, which sparked fury from shareholders whose request for clarity over the club&#8217;s accounts went unanswered.<\/p>\n<p>However, a statement from West Brom claimed Lai had &#8216;repeated his assurance to the club that the loan and accrued interest will be repaid.&#8217;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/09\/29\/18\/75987367-12576411-image-a-1_1696008493214.jpg\" height=\"423\" width=\"634\"><\/p>\n<p>West Brom have reportedly enquired about the status of a \u00a35 million loan made to owner Guochuan Lai&#8217;s company Wisdom Smart<\/p>\n<p>Your browser does not support iframes.<\/p>\n<p>According to reports in the i,\u00a0managing director Mark Miles has\u00a0 now written to the club&#8217;s parent company West Bromwich Albion Group &#8216;to find out if the money will be returned.&#8217;<\/p>\n<p>\u00a0Lai has missed deadlines to repay the loan in the past, and is now looking to sell the club amid anger at his tenure from fans.<\/p>\n<p>The Championship club has held exploratory discussions with parties from the Middle East and the United States and are hoping for a takeover worth around \u00a350million.\u00a0<\/p>\n<p>They\u00a0 hope to sell before the next transfer window in order to avoid having to sell off even more talent to soothe their financial woes.\u00a0<\/p>\n<p>Dara O&#8217;Shea departed the side for Burnley\u00a0in the summer for a fee below his release clause.<\/p>\n<p>There are concerns their Championship status could come under threat should they have to sell off more first-teamers for a slashed price.\u00a0<\/p>\n<p>The i claim West Brom&#8217;s wage bill is already down by 16 per cent, and that the club cannot continue to operate in its current state without selling players.<\/p>\n<p>Results have remained relatively steady at the Hawthorns despite off-field concerns this season, with the Baggies currently 13th in the Championship after two wins, four draws and two losses.\u00a0<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2023\/09\/29\/18\/71331483-12576411-West_Brom_s_owners_have_refused_to_answer_38_financial_questions-a-2_1696008505885.jpg\" height=\"425\" width=\"634\"><\/p>\n<p>The club has been ravaged by financial difficulties and reports suggest they &#8216;may need to sell players to stay operational&#8217;<\/p>\n<h3>IT&#8217;S ALL KICKING OFF!\u00a0<\/h3>\n<p><span><span>It&#8217;s All Kicking Off is an exciting new podcast from Mail Sport that promises a different take on Premier League football.<\/span><\/span><\/p>\n<p><span><span>It is available on MailOnline, Mail+, YouTube, Apple Music and Spotify.<\/span><\/span><\/p>\n<p>Your browser does not support iframes.<\/p>\n<p>Source: <a href=\"https:\/\/www.dailymail.co.uk\/sport\/football\/article-12576411\/West-Brom-Guochuan-Lai.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>West Brom &#8216;looking to recall \u00a35m loan&#8217; from owner Guochuan Lai&#8217;s company amid growing financial problems, with the club reportedly needing to &#8216;sell players in order to stay operational&#8217; West Brom owner\u00a0Guochuan Lai loaned \u00a35m to one of his companies in 2021 The Club has now asked the company &#8216;when and if the money will&hellip;<\/p>\n","protected":false},"author":2,"featured_media":292558,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>West Brom &amp;apos;look to recall \u00a35m loan&amp;apos; from owner Guochuan Lai&amp;apos;s company - Tell My Sport<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tellmysport.com\/soccer\/west-brom-look-to-recall-5m-loan-from-owner-guochuan-lais-company\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"West Brom &amp;apos;look to recall \u00a35m loan&amp;apos; 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