S4A keen to see impact of independent regulator but hold West Brom fears

The regulator plans were a result of last year's fan-led review and were this week confirmed by the government.

Aims confirmed in the White Paper, led by Conservative MP Tracey Crouch, include more stringent measures to present historic football clubs going out of business. They also seek to stop clubs from joining 'closed-shop competitions' – such as the proposed European Super League, to improve owners' and directors' tests and to ensure a fairer distribution of finance down the pyramid.

High-profile collapses of historic clubs such as Bury and Macclesfield Town prompted an investigation and review.

Albion's ownership troubles under controlling shareholder Guochuan Lai have showed few signs of relenting in recent months. The Chinese businessman has missed two deadlines to repay the £4.95million – and mounting interest – he took from the club in March 2021. A club statement on December 31, the most recent deadline, said that Lai had sent assurances of the repayment 'early in the new year'.

The significant seven-figure fee has still not arrived into the club coffers, as supporters continue to protest against the absent controlling shareholder. Anger led to the launch of supporter group Action for Albion, who have led protests and gathered national momentum in recent weeks and months.

S4A, who represent the roughly 12 per cent of shares owned by fans and not Lai, are pleased their work has been noticed and acted on at legislative level.

"S4A welcomes the very positive White Paper, which we note has cross-party support," Leigh Kent, vice-chair of Shareholder for Albion, told the Express & Star. "This will hopefully bring about long overdue change in the game – the people's game.

"Sadly it also exposes how poorly the game has been regulated and how, what was, a very well-run club like Albion is in the position it is in now.

"From this and comments in Parliament, it seems that our work over recent years and the work of Action for Albion may have informed some of the content here.

"It has been discussed repeatedly within S4A that we were doing what we do not only for Albion, but for the wider game. West Bromwich Albion FC is a classic and live case study for many of the problems within the game.

"The key now will be the speed at which legislation is passed, the speed and method of implementation of the proposals and their enforcement. A lot of very wealthy self-interested groups and individuals are clearly going to provide strong opposition."

While it is hoped by sports and football fans generally that the latest legislation can help protect clubs and their history, supporters of Albion remain fearful 'damage has already been done' when it comes to the Baggies' plight.

Albion last month confirmed a £20million loan from equity firm MSD Holdings as a safety net for the months ahead, but particularly from the summer should Carlos Corberan not lead the club to promotion to the Premier League with top-flight parachute payments to decrease markedly after this season.

The club's historic home of almost 125 years, The Hawthorns, was listed as security against the loan, among other club assets and sites.

Chief executive Ron Gourlay stressed the figure was to look after overheads and areas the club need to continue developing. He revealed he was told by Lai funds via a third party would be the only way of securing any funding.

"Our concern remains that this step has come too late in the case of Albion, as damage has already been done due to the current weak regulatory regimes in play," Kent added.

"We remain fearful of what the future holds for the club if it does not achieve promotion this season or next season. All of this could have been avoided had regulation been fit for purpose over the last 10 years.

"We will review the paper in detail and provide comments as part of the consultation."