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West Brom CEO Ron Gourlay convinced Lai will repay £5m loan

ByJoseph Masi

Jun 30, 2022

Guochuan Lai the owner of West Bromwich Albion .The Baggies confirmed yesterday that Lai took £4,950,000 out the club and ploughed it into Wisdom Smart Corporation Limited, a company related to him.The loan, which was made in March 2021, had the interest fixed at £50,000 and was due to be repaid on September 15, 2021.That date, though, has since been put back to December 21, 2022.The news Lai has taken money out of Albion has led to huge concern among fans.Gourlay, though, insists Lai only did it due to the coronavirus pandemic.