Sale of West Bromwich Albion nearly complete

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Jeremy Peace’s time as chairman of West Bromwich Albion is coming to an end, as the Baggies are soon to have a new owner.

We do not know who that owner will be, but in a statement released by the club earlier today, the sale is expected to be completed “by the end of this month.”

[ RELATED: Friday’s Transfer Rumor Roundup ]

Peace currently owns 88 percent of the club and has served as chairman since 2002, overseeing nine Premier League campaigns during his tenure at The Hawthorns.

The club’s statement said a party interested in purchasing the club has been granted exclusivity, meaning only that one party can submit a formal bid.

West Bromwich has not revealed who has been granted this right, but some reports suggest a Chinese-based group is poised for the takeover.

From BBC Radio’s Pat Murphy:

I understand a Chinese consortium are the prospective buyers and now they have been granted exclusivity no other party can look at the books or get directly involved for up to six weeks, but that is more than enough time.

West Brom owner Jeremy Peace runs a tight financial ship and it would be a major surprise if the potential buyers found anything to perturb them.”

The Baggies finished 13th in the Premier League last season, and manager Tony Pulis’ job is not at risk should the sale go through.