Albion up for sale!
10 June 2008
According to a report in today's Express and Star, West Bromwich Albion "was today put up for sale by chairman Jeremy Peace". It quotes Peace saying "The reality is that to be successful in the Premiership a club of our size needs significantly more financial backing".
It goes on to say that Peace may be prepared to sell his majority shareholding in the club and stand aside if a suitable buyer can be found, and that the club is currently valued at around £30 million, making Peace's stake worth around half that. However, that value is considerably higher than the £7 to £8 million that his recent share offer valued the club at. In addition, Peace has always maintained that the club would consider any serious approach from an investor, so is this actually anything new?
Besides, do we really want our club to become a rich man's plaything? The shenanigans at the likes of Chelsea, Liverpool and Manchester City are not something that have great appeal, and it could raise big questions over the future of Tony Mowbray, who has already said he doesn't want to bring in big stars and risk upsetting the balance of the team.
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"There are good and bad examples here I think. Liverpool, Man City are examples where it has not gone well. I think Man Utd. is an example where it has worked better than many expected. Since the Glazers took over there has been nothing but success and nobody seems to mention them now. I would like to think that Peace will be very careful in selecting who to sell to. If he makes as a good a decision over this, as he did over the current manager, then we should be excited at the prospect of a new owner. Another example where things have quietly gone well is Pompey. I would be happy to follow that lead."
"I think it really boils down to what the owner particularly wants. In the case of Hicks and Gillett, it appears that they couldn't agree on anything when it became apparent that Gillett wanted rid of Benitez as manager. As for Ol' Blue Eyes at Eastlands he is the English equivalent of what Vladimir Romanov of Lithuanian bank Ukio Bankas has been for Hearts up here - a complete disaster wanting to get too involved in the football side of the club rather than sticking to what he knows, being business. Any new owner has to be someone that will let the football side run itself and have trust in the management of the club, which is excellent at the moment, and improve the business side of it to help finance a long-term stay in the Greed League."
28 May 2008: Three in. Well, sort of...
06 May 2008: The parade is off
09 April 2008: Black and white stripes? Us?
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