Sky Sports reports that West Brom have been placed under a business plan by the English Football League (EFL), which will restrict their transfer activity in the summer window, due to concerns that they could breach the league’s financial rules.
West Brom reached the Championship play-off semi-finals last season, losing to Southampton over two legs, but their hopes of strengthening the squad to make another push for promotion this summer have now been threatened.
Sky Sports has been told that West Brom’s financial health is not in question and there is no danger of them being unable to pay their bills. Instead, the threat centres around whether the club can stay within the league’s financial guidelines. The financial issues relate to the club’s previous ownership, while the new owners are determined to still strengthen the squad where possible, despite the potential for further spending.
Billken Football WBA Limited, owned by Florida-based entrepreneur Guochuan Lai and his father Kiran Lai, purchased 87.8% of West Brom in February and they are working directly with the EFL to address the issues and ensure compliance with the rules.
In fact, it’s understood West Brom officials have been working closely with the EFL over the past 18 months, dealing with all player wages and transactions in an attempt to ensure they are operating within the rules.
Under these league regulations, any club with a risk of breaching the Profitability and Sustainability Rules (PSR) is given strict new guidelines, where any new transfers need to be approved by EFL officials beforehand.
West Brom have only paid a fee for one player so far, the £500,000 signing of central defender Thorbjørn Halvorsen from Sweden. Twenty-nine-year-old Dwain Holness joined the Hawthorns on a free transfer from Barnsley. Goalkeeper Joe Goldsworthy and midfielder Usman Diakhaby have also arrived on free transfers, while experienced defender Paddy McNair joined on loan from San Diego.
Nine players have departed the Hawthorns this summer as the club have tried to reduce the overall wage bill.
West Brom’s pre-season form has been poor, with defeats to Bolton, Blackpool and Mallorca. Their only victory this summer came against Peterborough. Their final pre-season game is against Birmingham City.
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