Chinese buyer bags West Brom

Another European football club falls into Chinese hands amid rising national interest in the sport under soccer-loving President Xi Jinping.
West Brom's British striker Saido Berahino in action during a Premier League game
West Brom's British striker Saido Berahino in action during a Premier League game

British soccer club West Bromwich Albion announced on Friday it was being sold to a sports company owned by little-known Chinese entrepreneur Guochuan Lai, marking yet another Chinese acquisition of a top-flight European football club.

Jeremy Peace is ending his 14-year stint as chairman of the 138-year old club after the British businessman agreed to sell to Yunyi Guokai Shanghai Sports Development, controlled by Lai. The financial terms of the transaction were not disclosed.

In a letter to West Brom fans, Lai said acquiring the club, based in England's industrial Midlands region, was a great investment from a business standpoint because it is debt-free and financially sound....

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