Nicola Richards MP brings West Bromwich Albion fans’ ownership concerns to parliament

West Bromwich East MP Nicola Richards has urged the government to bring forward a fan-led review on ownership of football clubs with supporters expressing concern over West Bromwich Albion’s financial difficulties.

The Baggies have enjoyed an upturn in form under new manager Carlos Corberan this season, but off the field it’s a different story.

West Brom remain in a precarious position with regard to finances and their current ownership, with loans and investment poising question marks over the club’s financial future. These worries will only intensify if they do not get promoted to the Premier League at the end of this season.

It was announced via a club statement as 2022 drew to a close, that West Brom would take out a £20 million four-year loan from company MSD Holdings UK Limited.

This came with a hint of alarm for supporters, as the statement read that it would be used to cover ‘general business operations’ at the club. The loan was also taken out against ‘all Group assets’ which would include essential properties including the training ground and stadium.

And according to Express and Star, Lai also owes a further £2 million to Warmfront Holdings Limited, who will own 2.35 per cent of the businessman’s shares in the club should he fail to repay.

MP urges fan led review to be brought forward

Speaking about West Brom’s financial difficulties in the House of Commons, Ms Richards said on Thursday (26 January), Ms Richards, said: “Thousands of West Bromwich Albion fans are deeply concerned of the actions of the club’s ownership.

“The owner took a £5 million loan from the club to fund his other business - money that is still yet to be repaid. The club has now taken a high interest loan of £20 million to fund day-to-day business secured against the club’s name and stadium.

“Will my right honourable friend bring forward the government’s response to the fan lead review and introduce a regulator to give fans the power to stop owners abusing the club’s assets in this way, and to penalise owners whose business decisions are not in the best interests of the football club?”

In response, Cabinet Minister for Sport, Tourism, Heritage and Civil Society, Stuart Andrew, said: “We will set out plans for reform in a white paper to be published in the next few weeks, the white paper will include strong action on owners and directors to ensure they are suitable custodians for clubs, and to avoid harm to fans and local communities like she has described.”