Premier League: West Bromwich Albion FC bought by the Chinese group Yunyi Guokai (Shanghai) Sports

The Chinese group Yunyi Guokai (Shanghai) Sports Development Limited acquired West Bromwich Albion Holdings Limited, the holding company that owns 88% of the shares of West Bromwich Albion FC (Premier League), announced the club on 05/08/2016. The Chinese group is led by entrepreneur Guochuan Lai, who becomes the first Chinese owner of a Premier League club.

The amount of the transaction has not yet been formalised, but several British media suggest an amount between £150m and £200m (€206m to €273m). "The buyer is a new company, focused on the sports industry, formed for the purpose of completing the acquisition. It is controlled by Guochuan Lai, who has provided the underlying equity for the acquisition, together with Palm and funds introduced by Yunyi Investment, a regulated asset management company, which led the negotiations on behalf of the Buyer," stated West Bromwich Albion on 05/05/2016.

"We are also entering a golden age for football in China. China has a massive football fan base, which has only been growing in the past years. There is also a real commitment, strongly…