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Tuesday briefing: West Brom owner Guochuan Lai fails to repay £4.95 million loan by deadline

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3 January 2023 - 4:30 AM

West Bromwich Albion controlling shareholder Guochuan Lai has failed to repay the £4.95 million loan his company took from the club by last Saturday’s deadline, The Athletic reports.

The loan was taken to help Wisdom Smart Corporation, a related company, through the Covid-19 pandemic. Lai has assured the club’s directors it will now be paid in early 2023.

In a statement released in June 2022, Lai said he would return the money, with £50,000 interest, by 31st December 2022,

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