West Brom’s summer of uncertainty they really didn’t need, as worrying Stoke City repeat looms

West Bromwich Albion are the subject of a potential takeover bid, as Manchester-based sports lawyer Chris Farnell and Egyptian businessman Mohamed Elkashashy are in advanced conversations, hoping to purchase a minority stake in the football club.

This, as The Athletic reports, could lead to a full acquisition of the Baggies, but there’s still plenty of uncertainty around the future of the ownership. Current chairman Lai Guochuan’s leadership - or lack of - has put West Brom into a troublesome position.

Things both on and off the field have gone downhill ever since August 2017, a year after Lai spent a £200 million fee to buy Jeremy Peace’s 88 per cent stake. Loans that have failed to be repaid and poor recruitment have collectively caused a major drop-off, to say the least.

Carlos Corberan has done a brilliant job to take Albion from potential relegation candidates to play-off contenders, and the squad remains talented, but the work behind the scenes grows fears that West Brom could remain in the Championship for quite some time.

It wasn’t always disastrous, but it ended up that way

Albion’s first season under Lai’s ownership was a terrific one as Tony Pulis led his side to 45 points and a top-10 finish in the Premier League. The next campaign, however, was disastrous as even the efforts of Pulis, Alan Pardew and Darren Moore couldn’t save West Brom from 20th spot.

Relegated down to the Championship for two years, the Baggies went up once more at the second time of asking as Slaven Bilic guided his team to a second-placed league standing, guaranteeing automatic promotion.

It didn’t take long for Albion to face the drop yet again, however, as a series of poor recruitment choices upon the return to the Premier League resulted in just five wins in 38 games under Bilic and Sam Allardyce.

It’s been disappointment after disappointment for The Hawthorns faithful ever since, as they’ve witnessed their side fall to mid-table in their first year back in the Championship, and then right to the bottom the next term. Only Corberan’s miraculous turnaround could save them.

West Brom could really do without the uncertainty

It goes without saying that not knowing what’s around the corner, even in the next few weeks, will have a negative impact on any club. But it’s a calamity of errors - especially financially - that’s causing such concern at West Brom in particular.

Lai rather notoriously took out a loan of £4.95 million from the club to help fund different business ventures, and he missed the deadlines to repay the funds afterward. The Baggies have a debt in excess of £5 million with interest as a result.

In addition to that, as per The Athletic, Albion “took out a high-interest £20 million loan from MSD Holdings, secured against club assets including the stadium”. Ron Gourlay, the third CEO appointed by Lai, has since resigned.

In severe debt, without a clear vision, and now no longer receiving parachute payments from the Premier League, West Brom are already in a tough situation. But there’s more yet, as head coach Corberan is subject to interest from former club Leeds United.

The Lilywhites were relegated down to the second tier and subsequently relieved former Baggies man Allardyce of his duties. Hunting for a new manager has commenced and Corberan’s name keeps propping up, especially given his prior experience as an Under-23s head coach at Elland Road.

As it stands at the time of publication, Daniel Farke is the odds-on favourite but Corberan isn’t far behind. Things could soon change if conversations with Farke don’t go to plan. Ex-Brighton & Hove Albion and Chelsea manager Graham Potter is another on the list.

Could Albion become the ‘next Stoke’ as a result?

Getting relegated from the Premier League and getting stuck in the Championship is quite common, especially when parachute payments drop away. Stoke City are a prime example, as they were a mainstay in the top flight but are now heading into a sixth successive Championship term.

West Brom have only had a couple of years since their last Premier League stint but they could soon find themselves remaining in their current division if the uncertainty isn’t revoked soon. Recruitment levels also need to be maintained, but that’s easier said than done.

Jayson Molumby, Brandon Thomas-Asante, John Swift, Jed Wallace and Okay Yokuslu all turned out to be shrewd bits of business last season, but the likes of Nathaniel Chalobah, Tom Rogic and Marc Albrighton all didn’t work out.

The upcoming Championship season looks like one of the most competitive ever as three huge clubs - Leicester City, Leeds United and Southampton - have dropped a tier. The likes of Coventry City, Sunderland, Middlesbrough and Blackburn Rovers also look incredibly strong.

It’s vital that West Brom get things right while sorting out their ownership mess as quickly as possible.