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Bombers right foot
West Brom are facing financial peril – but they have a plan
An absent owner and narrowly missing out on the playoffs are big issues but there is still hope to be found at The Hawthorns
West Bromwich Albion are preparing for another season in the Championship, with unpopular owner Guochuan Lai’s reputation at an all-time low with supporters.
Parachute payments have now run out, following relegation from the Premier League in 2021, and West Brom face a tough summer of trading to lower their cost base and fulfil wage obligations.
Carlos Corberan, the head coach, will have to sell players before buying and there is pressure to shift some high earners such as Karlan Grant, Grady Diangana, Matt Phillips and Kyle Bartley.
A four-year loan of £20 million from MSD, the American private investment company, has also raised fears across football that West Brom could become “the next Derby County”.
MSD’s involvement was necessary after Lai’s lack of investment and bewildering refusal to pay back £10 million in loans (£5 million of which Lai inherited from former chairman Jeremy Peace).
Yet the MSD loan is likely to rule out the prospect of administration in the short-term and there is a strategy in place to ensure the club remains competitive next season.
Big-money players heading for the exit
After missing out on the play-offs in an excruciating final day of the season, the target is to build a squad capable of mounting another promotion push.
With Corberan fully invested in plans for the future, everything remains possible.
The plan is to operate sensibly in the transfer market, finding value in hidden gems like Brandon Thomas-Asante who was signed from Salford for just £350,000 last summer.
Fees for new signings are possible but the main focus will be on free agents: while this may sound unambitious, there are clubs in the Championship such as Luton Town and Millwall who have paid low wages and still remained in the mix for promotion.
Removing highly paid players who are not contributing is key to the strategy. In January, the contract of Kenneth Zohore was terminated while Jake Livermore is departing as a free agent.
There will be a renewed attempt to move on other big earners to slash the wage bill.
While the majority of clubs can absorb £50,000-a-week wages in the Premier League, the flex-down to £25,000-a-week after relegation is now far too much in the Championship.
The aim is to retain important players where possible, so offers for the likes of Dara O’Shea, Jed Wallace and John Swift will have to be significant.
Regret at not sacking Bruce earlier
Corberan is regarded as the club’s best asset. The former Huddersfield and Olympiacos head coach won 16 of his 30 league matches in charge after replacing Steve Bruce in October.
Taking over a club bottom of the league, Corberan was in contention for a place in the play-offs until the final half-hour of the campaign.
Indeed, there is inevitable regret that Corberan was not appointed earlier. West Brom’s chief executive Ron Gourlay could easily have dismissed Bruce before October but there was a determination to move away from always blaming the manager.
Corberan has instilled a strong spirit and professionalism within the dressing room and made it abundantly clear that nobody will be allowed to steer the club off course.
His summer planning is already underway and he has been present at the training ground every day since the final match at Swansea on Monday.
He has targets in mind and wants to work quickly, in order to be fully prepared for the start of pre-season in late June.
There is also confidence that he can operate effectively on a limited budget, after taking Huddersfield to the Championship play-off final last season.
Absent owner must entertain credible takeover offers
West Brom’s biggest issue remains Lai, their absentee owner. The entrepreneur is based in China and has not attended a game since January 2022.
He is either reluctant or unable to provide any investment, and frustration from supporters has threatened to boil over. Protests were frequent last season before and during matches.
Failure to achieve promotion this season is undeniably a huge financial blow, with the final parachute payment of around £30 million swallowed up.
One of the founder members of the Football League, West Brom desperately need new direction and a clear financial plan which does not rely on loans or having to sacrifice players.
Though the MSD loan is a headache, as it will clearly need to be repaid, it does provide Albion with a comfort blanket which affords them time.
Lai must entertain any credible takeover offers, and the growing interest from American consortiums in acquiring Championship clubs should provide encouragement.
This summer could be difficult, but this club is too important to just fade away.
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