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Meizhou entrepreneur Lai Guochuan became the new housekeeper of West Bromwich Albion Football Club

Chinese Consortium acquired Premier League football club

Update: 2016-09-17 15:36:35 Source: MeiZhou Daily Hits:120

Premier League football club West Bromwich Albion announced on 15th that Chinese consortium led by the Chinese entrepreneur Lai Guochuan has completed the purchase of the Club.

The club issue a statement on its official website:"West Bromwich Albion Club confirmed that the program of transferring the control of the club revealed in August this year has been completed.”

The statement also said,former President of the Club agreed to sold his 88%shares to YunYiGuoKai(Shanghai)sports development co.,Ltd,which was controlled by Lai Guochuan.

"I am very pleased to be able to complete the acquisition of the club and become the next manager of the club,"Lai said in a statement.Thanks to Jeremy Peece for his contribution to the club over the past 15 years,he has laid a solid foundation for the club's next move.

The statement also said former Chief Executive of Football Club Clacton John Williams will become the Club's new Chairman.

Both sides reached an agreement in June this year.Over the past few months,they have been waiting for the approval of the UK Financial Services Authority and the Premier League.

West Bromwich Albion was founded in 1878,with the home game of the Hawthorn Tree stadium,has won the championship of 1920 England's top league,got five FA Cups and one League Cup winner.The club once visited China in 1978,and now it will become the first English Premier League club held by Chinese,before that,Chinese capital also acquired Aston Villa and Wolverhampton Wanderers,but those two teams were in the Football League Championship.

Lai Guochuan,42 years old,was born in Meizhou,Guangdong Province.According to media reports,Yun Yi Guokai shareholders consist of Lai Guochuan and acquisitions fund set up by Palm Eco-Town Development Co.,Ltd.(hereinafter referred to as"Palm shares")and Yun Yi Investment Management(Shanghai)Co.,Ltd..Lai Guochuan is the main investor and actual controller of YunYiGuokai.He is also the former director and former general manager of Palm shares.