Last banking day of the year, is the cheque in the post

[baggieal]

Whilst I am certainly not condoning Lai’s actions, I do understand them.
As the WBA ‘owner’ (ultimate major shareholder via the various holding companies) and in need of cash flow for other of his businesses, WBA have provided the vehicle to generate the funds.
Having missed out on the expected Premiership promotion and related income, Lai seized the opportunity to withdraw funds. The underlying potential trauma to the WBA business, supporters and staff is clearly of little concern to him. WBA is a UK trading company, no more.
The use of the Hedge Fund investors seems a precarious route (expensive) for him to facilitate some risk management for his overall investments.
Nervy financial times are here with any buyer unlikely to offer enough to bail Lai out…win the playoffs and then who knows ?

Sorry Prando - not correct and not ethical what he’s doing. Should any owner pull money out of their company as they please with two fingers up to the shareholders? You will also find if West Brom is not trading profitably which I don’t believe it is with the needed loan - it’s actually illegal to distort money out of the company even if you own it. So in essence if a company were to go bust and any owner had extracted funds from it when it was not profitable - they will be pursued by the administrator. The creditors are the ones who will be screwed! Take Mel Norris - he screwed all his creditors and put the stadium protected in another company! He should have been sent to jail!

Things will only change when people realise he’s shafting the club! Thousands of West Brom supporters are starting to wake up to what he’s doing!

You can have any opinion you want! As a business owner - I know he’s shafting the business big time and it’s illegal to extract money when the business can’t afford it or have the due funds in their accounts.