The pending takeover of West Bromwich Albion football club that we reported on back in August has now been completed, making it the third Midlands football club to have been bought by a Chinese company this year.
The premier league club has been bought by Chinese investment company Yunyi Guokai (Shanghai) Sports Development Ltd, which is controlled by Guochuan Lai.
Mr Lai said: “I’m delighted to complete the acquisition and to become the next steward of the club.
“I would like to thank Jeremy Peace (former chairman) for his leadership over the last 15 years and for laying the strong foundations for the next stage of the club’s development.”
At the time of the acquisition, Jeremy Peace stepped down as chairman and John Williams, former chairman of Blackburn Rovers, stepped into the role.
Mr Peace said: “It has been a tremendous privilege to lead the Albion. I am proud that 11 of my 15 seasons as chairman have been spent in the Premier League whilst three others brought automatic promotion from the Championship.”
He added: “Guochuan Lai has been a supportive partner during the handover process and we have both done everything possible to move the club forward.”