Forum | West Brom owner took Â£4.95m company loan from club by King_of_Portman_Rd

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West Brom owner took Â£4.95m company loan from club 09:14 - Jul 1 with 684 views

To keep one of his other businesses afloat.

https://www.bbc.co.uk/sport/football/61992838

That Â£4.95m was taken out of the club to supplement the owners hospitality company that was struggling during the pandemic. That money could have been used in the past couple of transfer windows which I’m sure the fans are raging about.

West Brom owner took Â£4.95m company loan from club on 11:51 - Jul 1 with 476 views

ibbleobble

Directors loans between companies are common. He’s the controlling shareholder so he can. Spending it on players it becomes an expenditure. Transferring it between his companies still technically keeps it as a debt owed to West Brom plus £50k interest.

Not sure what their issue is if the funds weren’t ever planned for transfers and the figure was just company liquidity. Didn’t they spend 8 million anyway!?

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