March 27 – With West Brom set to announce a predicted year end financial return of about £40 million in profit, the club’s chief executive Mark Jenkins has said that the finances are actually in a poor state and that the club is going to need an overdraft facility, its first for 1o years.
West Brom is rock bottom of the Premier League with seven games to play and 10 points from safety. Jenkins’ comments to the BBC look to be an attempt to forward manage expectations for life in the second tier next season.
Jenkins, who left the club after the takeover by Chinese businessman Guochuan Lai in 2016, returned to the club in February. He painted a grim financial picture for the future of West Brom at a time when Lai is rumoured to be seeking new owners.
Lai’s vision of West Brom branded football cities across China and a breakthrough to the upper echelons of the Premier League have not been achieved.
“We are at record levels on wages, we have broken our transfer record and have loan fees at the highest level. There has been full investment – and a little bit more as well – hence the need for an overdraft facility,” said Jenkins.
“I’ve just come back into the club after just over 12 months out and I’m shocked by what I have found. We need to restructure the club so it is able to compete and exist long-term in the Premier League.”
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