West Bromwich, England: The takeover of English Premier League club West Bromwich Albion by Chinese investors has been finalised.
West Brom said in a statement that the purchase of the club by Yunyi Guokai (Shanghai) Sports Development Limited, announced in August, was completed yesterday. The takeover had been subject to approval by the league and English financial authorities. Lai Guochuan will head the new ownership group.
West Brom, which has been in the Premier League since 2010, joins fellow English teams Aston Villa, Wolverhampton Wanderers, and Birmingham in being owned or part-owned by Chinese investors.
Manchester City also announced in December that China Media Capital Holdings and CITIC Capital were investing $400m to buy 13pc of the club’s umbrella organisation.
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