[SmethDan]

I agree with this and don't think anyone is suggesting otherwise.......

So you haven't read anything about how we were purchased for the purpose of money laundering? I've definitely read that one more than once.

[skyclad99]

So you haven't read anything about how we were purchased for the purpose of money laundering? I've definitely read that one more than once.

I certainly haven’t Dan. Is the suggestion that the money used to buy the club was dirty? And it is now being taken out in instalments? Or money subsequently invested is dirty? If it is plan B it’s not going well.....

Probably needs the bloke from Ozark to join the board!

[gazberg]

I can't stand the bloke but i don't think he bought us for money laundering. He's just completely clueless and so out of his depth it's scary.

Even worse is that he doesn't seem to understand he will only lose more money the longer he remains here.

[SmethDan]

I certainly haven’t Dan. Is the suggestion that the money used to buy the club was dirty? And it is now being taken out in instalments? Or money subsequently invested is dirty? If it is plan B it’s not going well.....

Probably needs the bloke from Ozark to join the board!

As in purchase monies and then using Albion as a means to launder. I stress I am not making such an accusation but it was a fairly prominent online theme a while back. I was just making a broader point that it's been suggested our purchase wasn't just an innocent stupid mistake by a group of buffoons.

[skyclad99]

As in purchase monies and then using Albion as a means to launder. I stress I am not making such an accusation but it was a fairly prominent online theme a while back. I was just making a broader point that it's been suggested our purchase wasn't just an innocent stupid mistake by a group of buffoons.

I know and I am certainly not suggesting otherwise. I would be interested to see any articles suggesting this though.

I would have thought that the FA would have exercised full provenance checks on the funds used to purchase the shares to be honest.

[NJS]

Usually money laundering is taking over some marginally poor business and ploughing your dirty money into it or using marginally honest lawyers and estate agents to buy expensive flats on the Thames.  If you don't fit them out with sanitary ware etc, you don't pay rates so they're an appreciating asset as much as gold.

I don't see this in Yunyi Guokai's acquisition of the club.  Rather it is bad investment that they are now trying to recover bit by bit by director's loans and disposal of club assets (eg Pereira).

If the Hawthorns becomes an ACV, it will make it a little less attractive to developers whom Guochuan would want to flog it to.

FA's suitability checking is a joke like the management of a lot of UK financial regulation and oversight.

[baggiejohn]

As in purchase monies and then using Albion as a means to launder. I stress I am not making such an accusation but it was a fairly prominent online theme a while back. I was just making a broader point that it's been suggested our purchase wasn't just an innocent stupid mistake by a group of buffoons.

While the owner & his dealings remain opaque, there will always be conspiracy theories.

Allegedly, he ran a very succesfull landscaping business in China, we provided european publicity for it in our first year, even to the point of re-naming our training facility.

The  aquisition was sold to us on the basis of his success with Palm, there were even nuances that our development was linked to that of Palm.

IMO, Lai isn't a fool, but he made the fundamental mistake of acquiring a business that he knew nothing about.

[SmethDan]

I haven't suggested otherwise  .

[johnny Cash]

I agree with those stating it doesn’t make any sense as a money laundering operation.
 
Putting £170m in to get £7m out 5 years later?  There would be tonnes of cash transaction  businesses, easy to flip properties, where you’d do it much faster. Nevermind easier territories than the UK to try and do it in.

It’s been a terrible investment for Lai, almost certainly not one he’d make in hindsight but I think that’s all it is.

[Maresca Was A Baggie]

Is there a light at the end of the tunnel? How does Lai unload this mess of a club? China's economy is a mess, and he's never going to come close to recouping his investment. How low do we have to get before he admits that enough is enough, and cuts his 'Huge' losses? Because until he is gone, we as a club are in limbo, with zero investment, and as of next season, having huge overheads we can no longer afford. Any potential buyer will surely try and take advantage of the situation. How do we get out of this mess?

[gazberg]

Just got to hope he sees sense and realises he's way out of his depth and sells at a loss while there is still something left.

[AlbionFan]

I'm no accountant and approach this from purely a layman's perspective and hope it makes some kind of understandable sense, any accountants please put me straight if my thinking is off on this.

So, the club is not in any debt, operates on the self sufficient model / blueprint that JRP introduced and operated, has tangible and intangible assets, therefore, apart from the loss in Lai's investment in buying the club, it's not actually costing him any additionally losses other than, as I said, the current diminishing market value of the club.

A big loss I know, but are there any accounting procedures that a smart accountant could implement, any type of right off's et al. that would enable him to sell the club and would minimise his loss that would make it more acceptable for him to sell?

In accounting, is there a point that could / would encourage him that now (whenever now is) is a good time to sell the club that minimises his loss? 

[baggie82]

I agree with those stating it doesn’t make any sense as a money laundering operation.
 
Putting £170m in to get £7m out 5 years later?  There would be tonnes of cash transaction  businesses, easy to flip properties, where you’d do it much faster. Nevermind easier territories than the UK to try and do it in.

It’s been a terrible investment for Lai, almost certainly not one he’d make in hindsight but I think that’s all it is.

Lai is just the figurehead for the Chinese investors who together bought the club, he didn't buy the club with his own money, he never had that sort of cash to begin with. The takeover was funded by a consortium who presumably were looking for a reasonable yield on their investment and just as importantly to own assets / wealth outside the reach of the Chinese Communist Party. Jeremy Peace knew who he was selling to and sold the fans and media a yarn of lies about Lai taking us onto the next level and all the other billionaire BS headlines.

[Baggies]

Football finance expert Kieran Maguire (price of football) has just tweeted the following from our accounts (lodged yesterday at companies house):

"West Brom are released from a series of mortgage loans. Many are quite old & have probably been paid off some time ago so could be just a bit of housekeeping. Alternatively could be clearing the decks to allow club to borrow from a new source"

https://mobile.twitter.com/KieranMaguire/status/1572845022424272896

[darbolina]

Football finance expert Kieran Maguire (price of football) has just tweeted the following from our accounts (lodged yesterday at companies house):

"West Brom are released from a series of mortgage loans. Many are quite old & have probably been paid off some time ago so could be just a bit of housekeeping. Alternatively could be clearing the decks to allow club to borrow from a new source"

https://mobile.twitter.com/KieranMaguire/status/1572845022424272896

I wonder if Lai could take out loans in the club's name, secure the ground against them and then pay dividends to himself from the proceeds of the loan.

I have my suspicions!

[baggiejohn]

Football finance expert Kieran Maguire (price of football) has just tweeted the following from our accounts (lodged yesterday at companies house):

"West Brom are released from a series of mortgage loans. Many are quite old & have probably been paid off some time ago so could be just a bit of housekeeping. Alternatively could be clearing the decks to allow club to borrow from a new source"

https://mobile.twitter.com/KieranMaguire/status/1572845022424272896

Looks like they're old charges (loans) from 2003 & 2005 to pay legal & accountancy fees.

Didn't someone say we're changing accountants? Might be a house keeping exercise for that.

[tex]

i would guess Lai has increased the membership for S4A after the summer.

[AlbionFan]

i would guess Lai has increased the membership for S4A after the summer.

You would be right.

Membership has increased by 10% this season

[NJS]

i would guess Lai has increased the membership for S4A after the summer.

Please could you explain? Do you mean that by his actions and manoeuvres, Lai has drawn in more people to invest in S4A or has increased the value of its holdings (surely not).

[baggiejohn]

Lai is just the figurehead for the Chinese investors who together bought the club, he didn't buy the club with his own money, he never had that sort of cash to begin with. The takeover was funded by a consortium who presumably were looking for a reasonable yield on their investment and just as importantly to own assets / wealth outside the reach of the Chinese Communist Party. Jeremy Peace knew who he was selling to and sold the fans and media a yarn of lies about Lai taking us onto the next level and all the other billionaire BS headlines.

I'm not sure I understand this comment.

Nobody buys a football club to generate income. I could understand someone buying a run down football club, with a view to adding value & then selling at a profit. Lai, allegedly, paid a premium price for WBA Holdings, so there has to be other reasons.

It might well be that Lai represents a consortium who collectively own WBAFC Holdings, but he would surely have a significant interest in the consortium to be the leader? IMO, he's a lot more than a figurehead.

[SmethDan]

Please could you explain? Do you mean that by his actions and manoeuvres, Lai has drawn in more people to invest in S4A or has increased the value of its holdings (surely not).

I think he means there's been a 10% increase in small shareholders joining S4A. To the best of my knowledge membership of S4A is not obligatory for small shareholders.

[NJS]

I think he means there's been a 10% increase in small shareholders joining S4A. To the best of my knowledge membership of S4A is not obligatory for small shareholders.

Thanks for the clarification

[SmethDan]

I know and I am certainly not suggesting otherwise. I would be interested to see any articles suggesting this though.

I would have thought that the FA would have exercised full provenance checks on the funds used to purchase the shares to be honest.

As in a 'fit and proper person's test'?..........  supporters at a number of clubs may question the value of the paper they're written on before taking appropriate action and flushing them down the loo.

[liverbaggie]

I reckon he was sold the club on staying in the Premier league for say 10 years
He would be happy I imagine, doing nothing and putting no more money in, just taking 20%  of a potential 100 million prem payments hanging on for say 10 years then he's got his money back then sells
Clever accounting could do that for him, problem is we're not in the pre

[baggiejohn]

Quite an old (but still relevant) article on why you wouldn't want to own a football club.

https://www.bbc.co.uk/news/business-26365955