West Brom completes sale to Chinese investors

West Bromwich Albion's takeover from a Chinese consortium has been ratified by the Financial Conduct Authority and the Premier League, completing protracted negotiations between the two parties.

The Baggies announced the sale had been agreed to back in August, with the significant outlay spent on Nacer Chadli towards the close of the transfer window perhaps anticipating the deal being approved by the appropriate authorities.

"I'm delighted to complete the acquisition and to become the next steward of the club," said Guochuan Lai, the head of new ownership group Yunyi Guokai (Shanghai) Sports Development Limited.

"I would like to thank Jeremy Peace for his leadership over the last 15 years and for laying the strong foundations for the next stage of the club's development. I am excited to have the opportunity to support the club's chairman, John Williams, and the team in building the club over the years ahead."

Reports soon after the deal was confirmed last month stated that Tony Pulis would remain as manager despite recent calls from the West Brom faithful branding the Welshman's brand of football as dull. Under his watch, the Baggies currently lie 12th in the Premier League table - two places higher than they finished last term.

"It has been a tremendous privilege to lead the Albion. I am proud that 11 of my 15 seasons as chairman have been spent in the Premier League whilst three others brought automatic promotion from the Championship," said departing owner Jeremy Peace.

"Guochuan Lai has been a supportive partner during the handover process and we have both done everything possible to move the club forward. Guochuan, John Williams, my board colleagues, our staff and supporters have my very best wishes for the future."

The nouveau riche West Brom welcomes West Ham United to The Hawthorns on Saturday.