Guochuan Lai’s £60m West Brom valuation 'realistic' says managing director Mark Miles

Miles, 47, has assumed the departed chief executive Ron Gourlay’s duties and confirmed the Express & Star’s report that Albion’s absent controlling shareholder Lai is open to investment.

The MD could not confirm whether that will come as part investment tor a full takeover and, as he is not a director at WBA Group level, was not at liberty to discuss figures, with the club understood to be valued around £60million.

Miles said: “Any sale will happen at a higher level of football club. I can confirm that Lai has said to me he is open to investment coming into the club whether that be a full or partial shareholding is yet to be seen. He’s now looking at alternative options that can get money into the club.

“I don’t know anything on numbers. Lai would have that figure. He’s realistic about what he’s looking for.”

WBA Group director Xu Ke (Ken) is Lai’s man on the ground at the club, though the club’s minority shareholders are exploring legal action against Ken due to a lack of clarity on finance and logistics.

“Ken is my link to Lai,” Miles said. “In strategy meetings, Ken is there.

“I have the autonomy to run the football club and do that without anybody else.

“Regular conversations (with Lai) that go through Ken, go back to China.”

Miles has continued on from Gourlay with the non-football advisory boards and football technical board meeting, from there a statutory board meeting, including Lai – virtually from China – is held. Miles said he was on a Zoom call with Lai a couple of weeks ago.

The MD has also met with supporter group Action for Albion and minority shareholders Shareholders 4 Albion to maintain an open and transparent dialogue with fans, which Miles says is expected of him from Lai.

“My role is to communicate on behalf of the football club,” he added. “I’ve already met with both, explained where the position of the football club us. Hopefully we can have positive relationship.”

Miles continued: “I would be lying to say there are no challenges ahead, clearly there are. We need to move payers on to be competitive.

“But we’re in a positive place.”

Albion supporters have certainly rallied behind their club so far this summer. Season ticket sales are at their best for more than 10 years, with more than 16,500 sales in a siege mentality among fans, who are taking advantage of competitive prices and a push to lower the average age demographic. Some 4,000 under-17 season tickets have been sold.

Miles said: “We have the best season ticket sales at this stage for this year. 16,500. Hopefully numbers continue to grow.

“Commercial sales and hospitality are positive, ahead of where they were last year. We recently launched the new away shirts, and sales have been positive.”