A Chinese investment group led by Guochuan Lai is expected to finalise the takeover of West Bromwich Albion on Wednesday, in what would be the first full Chinese acquisition of a Premier League club. The deal, worth approximately £175 million, will see owner Jeremy Peace sell a controlling 88 per cent stake in the club.
The transaction has been pending since early August, awaiting approval from the Premier League and the Financial Conduct Authority due to West Brom's financial services, including a WBA credit card. Peace is anticipated to remain as a consultant until the end of the season.
Meanwhile, a separate Chinese consortium, led by Chien Lee, owner of French club Nice, is in discussions with Hull City following the collapse of a previous bid from China. Former Hull chairman Paul Duffen, who left the club acrimoniously in 2009, is advising Lee.
Championship clubs Aston Villa and Wolves are already under Chinese ownership.
