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West Brom Facing Huge Debt Problems
By Danny Wright.
24th August 2023
Are West Brom in debt?
By Danny Wright.
24th August 2023
Are West Brom in debt?
Yes, and to put it mildly, it could be catastrophic.
West Brom owe £2million, plus interest, to Warmfront Holdings but that pales in comparison to the £20million owed to MSD Holdings.
As confirmed on 28 December last year, the £20million loan from MSD is secured against all assets owned by the club, including the stadium, the training ground and more.
Ke, also known as Ken, said that the loan was secured to “support the funding of its general business operations”.
It remains to be seen what such a vague description means but it’s unlikely to have gone towards strengthening West Brom’s first-team squad as with just a week left of the summer transfer window, Carlos Corberan has only been able to sign Josh Maja on a free transfer and Jeremy Sarmiento on loan from Brighton.
Dara O’Shea was sold to Burnley for £7million, Kean Bryan, Jake Livermore, Tom Rogic and David Button have been released and Karlan Grant and Taylor Gardner-Hickman have been loaned to Championship rivals.
West Brom’s parachute payments have dried up and tens of millions are owed to a number of different companies.
However, there is some money still owed to West Brom but the £5million loan paid to Wisdom Smart was written off in the last set of accounts and the loan initially taken out by Peace has no repayment date attached to it.
It’s unlikely that Albion will see that money any time soon – if ever. But there’s no doubt that the bailiffs will come knocking if those Warmfront and MSD loans aren’t repaid and Lai doesn’t exactly have a great track record of meeting deadlines.
www.westbromnews.co.uk
* Not good news for the Manager, the fans or the club.
What happened to "Fit and Proppa"?
West Brom owe £2million, plus interest, to Warmfront Holdings but that pales in comparison to the £20million owed to MSD Holdings.
As confirmed on 28 December last year, the £20million loan from MSD is secured against all assets owned by the club, including the stadium, the training ground and more.
Ke, also known as Ken, said that the loan was secured to “support the funding of its general business operations”.
It remains to be seen what such a vague description means but it’s unlikely to have gone towards strengthening West Brom’s first-team squad as with just a week left of the summer transfer window, Carlos Corberan has only been able to sign Josh Maja on a free transfer and Jeremy Sarmiento on loan from Brighton.
Dara O’Shea was sold to Burnley for £7million, Kean Bryan, Jake Livermore, Tom Rogic and David Button have been released and Karlan Grant and Taylor Gardner-Hickman have been loaned to Championship rivals.
West Brom’s parachute payments have dried up and tens of millions are owed to a number of different companies.
However, there is some money still owed to West Brom but the £5million loan paid to Wisdom Smart was written off in the last set of accounts and the loan initially taken out by Peace has no repayment date attached to it.
It’s unlikely that Albion will see that money any time soon – if ever. But there’s no doubt that the bailiffs will come knocking if those Warmfront and MSD loans aren’t repaid and Lai doesn’t exactly have a great track record of meeting deadlines.
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* Not good news for the Manager, the fans or the club.
What happened to "Fit and Proppa"?
