The Premier League has approved Jeremey Peace’s 88% share of his stake in West Bromwich Albion to prospective new owner Guochuan Lai.
Peace arranged a sale for a deal of around £200m back on June 24. But the Premier League’s extensive Owners’ and Directors’ Test – which takes longer than the Football League alternative – delayed the completion of the takeover.
A statement from the Premier League said: “I can confirm the Owners’ and Directors’ Test, amongst other rules, has been applied.
“It’s a rigorous process that goes above and beyond UK law.
“Any further processes regarding the proposed takeover are a matter for the club.”
The Financial Conduct Authority also need to rubber-stamp the deal, although that is now expected to be completed within the next few days.
Has the delayed completion affected Albion in the transfer window? Have your say at Baggies Banter.