He’s right though. The current Chinese currency restrictions came into force just after he bought the club, preventing further currency exports, and yes, Fosun had large existing foreign currency reserves already which they could spend (but they also can’t get any new money out currently).
Dr Simon Chadwick on Twitter knows this subject better than anybody. No need to be an expert, just follow him on @Prof_Chadwick
And let’s not forget that Lai made it crystal clear when he bought the club that it would continue to be self-financing, just as it was under Peace. Unfortunately whilst that model works in the Premier League, it doesn’t work in the Championship once the parachute funding runs out, which is why nearly every Championship club owes large debts to its owners. If Lai cannot fund that, then selling up after next season without promotion is essential.
I have heard chadwick on the radio and take what he says with a pinch of salt when I see LK Bennett being bought out of administration by a chinese company only last month.
The fact is very low interest loans have stopped in China and with that has gone the availability for lai to borrow more.
Like you says though he wants to run it like peace, so it is a moot point whatever his wealth is in China as he has no intention of using it on us anyway.
What I don't subscribe to is what is peddled on here by without any foundation at all that lai is the victim of the Chinese regime and basically he has billions, which doesn't matter anyway because like you say he wants to run it like peace.
But, there is no proof at all that he is any different from a chancer like Dr x was at vile who wanted to take profits from the anticipated prem money, but whose gamble backfired.
What there is proof of is that he is an easily lead fool, who knows nothing about football and its administration and listened to peace in appointing fools like Goodman and Williams and then he got recommended the idiot terraeno, having seen his cv, who alienated everybody and then was finally sidelined when MJ came back.
What this naive buffoon thought, was yes I'll buy this club for £200m, saw the dividend of £27m and a history of profits and thought, that'll do me, I'll buy this and the continuing profits will service my debt etc pay back my capital outlay in a few years and happy days.
It would not surprise me at all if he had not even known about relegation and the championship and thought it was like American sport.
Our only hope is he knows some real rich people who can actually take us off his hands. Some actual clever people who have a plan like fosun and who have the actual football knowledge of someone like mendes in a partnership and most importantly a plan and ambition.
Add to all these excuses about currency restrictions the FFP rules you have all the excuses for him to do f all to progress the Albion.
We have been sold by one scum bag to another one imo. We have a not fit for purpose ground and had no improvement to it after unparalleled revenues flowing into the club since 2002.
We cannot grow our fan base because our previous owner who came in as a West brom born West brom fan thought we were a mid sized championship club and we couldn't fill our ground when really he'd rather declare profits and pay taxes in order to show a history of profits to attract a lai.
We as fans have been well and truly been shafted by our owners.
