Birmingham news West Brom update explained after latest Companies House filing PremierLeague-News.Com

PremierLeague-News.Com - West Brom chief executive Ron Gourlay has decided to step down from his director role in West Bromwich Albion Group Ltd

Birmingham news West Brom update explained after latest Companies House filing PremierLeague-News.Com

PremierLeague-News.Com - West Brom chief executive Ron Gourlay has decided to step down from his director role in West Bromwich Albion Group Ltd

Birmingham news West Brom update explained after latest Companies House filing PremierLeague-News.Com
05 August 2022 - 18:15

PremierLeague-News.Com - Breaking Sport Transfer News ! Ron Gourlay, the chief executive of West Bromwich Albion, has decided to step down as a director of West Bromwich Albion Group Ltd, BirminghamLive understands. Gourlay was appointed as the club's CEO in February after majority shareholder Guochuan Lai rung the changes at board level, removing Xu Ke from the post and installing Gourlay, while naming himself chairman in place of Li Piyue. Since then, Gourlay - formerly of Chelsea, Manchester United and Reading - has overseen the day to day running of the club at the training ground and attends matches home and away. He was seen on Thursday as Steve Bruce held his pre-Watford press conference. On July 25, Gourlay decided to step away from Albion Group in order to focus more on his duties as chief executive of the club. West Bromwich Albion Group Ltd is the company that owns West Bromwich Albion Football Club Ltd. The Group as a whole is made up of shareholders, which includes the 88% stake held by Lai. The remaining 12% is owned by various minority shareholders, most of which are represented by the group Shareholders 4 Albion.

News source = PremierLeague-News.Com

.7million to Peace’s company West Bromwich Albion Holdings in 2014. Peace sold his 88 per cent stake in West Bromwich Albion, held in WBA Holdings Limited, to Guochuan Lai in summer 2016, which meant Lai inherited that debt. It’s still not been repaid five years on, and because of the accumulating interest, the debt is now understood to be in the region of £5m. Peace always has strenuously denied suggestions that he borrowed the money in order to buy more shares in the club, and maintained that the reasoning behind the loan was that it was commercially attractive to the club. S4A proposed resolutions include the club "commissioning a thorough and independent investigation of and report into all circumstances surrounding and leading up to the making of a loan". They also wish for the club to "take all lawful and expedient steps to obtain repayment in full with interest". S4A spoke to Gourlay's predecessor Ken for some time but Gourlay did, back in May, green light those requests for an investigation - his decision to resign from his director role in the Group points to an intention to concentrate fully on footballing matters.

Source = PremierLeague-News.Com

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