EXCLUSIVE UPDATE: THE Cherries believe there will be major breakthrough in purchase of the club this year after talks with Middle Eastern groups.

According to reports, West Bromwich Albion is hopeful that a takeover agreement may be reached this year.

Guochuan Lai is planning to sell Albion “before the end of the year,” therefore the team is searching for a new owner.

Congratulations, Milo Ellington, as the Academy youngster completes a move  to West Bromwich Albion – TNSFC

The West Midlands club allegedly undertook ‘exploratory negotiations’ with groups from the US and the Middle East, according to The Telegraph.

The club is reportedly seeking for a transaction in the neighbourhood of £50 million. After the club’s allegedly inadequate summer sales, the search for a new owner has suddenly become more serious.

Lai hopes to recoup only 25% of the £200 million he paid for the club in 2016.

In addition, a source has reportedly told Football Insider that Albion is confident that a deal can be reached this year and that a buyer may be found in “the next few months.”

Kieran Maguire, a finance specialist, also told the publication that the asking price of £50 million was unrealistic. A’more realistic’ asking price, according to him, would be £30 million.

The property assets are strong, however the neighbourhood does not have a high property value. It will be harder to come up with a number of that worth if the club itself is not in a position to compete in the Championship by January.

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