West Bromwich Albion fans express relief and joy as Guochuan Lai, the previous club owner, exits. Ryan O'Hearn's contract details are revealed, including a $3.5 million deal for 2024 and a $7.5 million club option for 2025 with escalators based on games played. Lai repays debt to Alex Hearn in installments over 18 months, clearing the path for Shilen Patel to potentially take control of the club. Fans credit Carlos Corberan for keeping the club attractive amidst uncertainty about Patel's plans.
I am just so relieved. I am convinced we would have gone under with Lai in charge. It is so alarming how those running football are allowing our clubs to be bought by people who can so quickly run them into the ground. https://t.co/v9iuKPHTPk
I am just so relieved. I am convinced we would have gone under with Lai in charge. It is so alarming how those running football are allowing our clubs to be bought by people with who can so quickly run them into the ground. https://t.co/v9iuKPHTPk
The aim of this season was to get Lai out - a man dragging us towards oblivion. We have Carlos Corberan to thank for working miracles to keep us an attractive prospect. Not enough is known about Patel to judge what happens next, but it’s a relief that my club will exist #wba https://t.co/pccyNqDgtf
Start of a new era for #wba. Never again must the club be used as a bank for someone else's business interests. The Lai era is finally over. From a purchase price of more than £207m, to a point of utter worthlessness. Thank God he's gone.
🔵⚪️ Wrote this a few days ago and now WBA confirm the good news. Hearn/Farnell never going to happen. Shilen Patel was always the oneS https://t.co/VapGYtKoO7
Alex Hearn & Guochuan Lai do a deal. Lai will repay debt to Hearn in 3 bites over 18 months. Hearn waives his right to shares in West Brom’s parent co. This clears an obstacle to Shilen Patel’s path to control of club. Patel must still close deal with Lai. https://t.co/9AJyOetLqC
Full terms of Ryan O’Hearn’s deal, per source: 2024: $3,500,000 2025: $7,500,000 club option (no buyout) Escalators for 2025 club option: 120 games: $500,000 150 games: $500,000
So glad this toxic man is out of our club!! https://t.co/QYTISUnp9U