Someone lend a hand if you can? Have I got this right?
So loan has been taken out by West Bromwich Albion Group Ltd, who own West Bromwich Albion FC (the football club)?
Lai’s 87.8% share in West Bromwich Albion FC is called West Bromwich Albion FC Holdings. WBAFC Holdings is owned by a separate company of a similar name, West Bromwich Albion Holdings Limited.
West Bromwich Albion Holdings Limited is owned by Yunyi Guokai Sports Development Limited, who are owned by Guoachan Lai.
I think I have this right but please shout me down if not.
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Deliberately confusing and opaque accounting aside…
Is it legal for a loan given to the West Bromwich Albion Group and secured against group assets, to effectively pass its way up the chain, make its way to Yunyi Guokai Sports Development Company in Shanghai, to then be moved on wherever Lai sees fit - taking the loan out of the club but burdening it with debt and interest and at risk of default and assets being seized, etc.
May not be possible and I may just be being overly cynical. That said, I don’t trust Lai at all and if he’s having cash flow problems in China’s Ponzi scheme of a housing/construction market, perhaps this is a way of solving that.