A loan worth almost £5 million was taken out of West Bromwich Albion by its majority shareholder and chairman Guochuan Lai, it has been revealed.
A total of £4.95 million was transferred in March 2021 to Wisdom Smart Corporation, a company related to Mr Lai, with a fixed interest of £50,000.
This was supposed to have been paid back in September last year but a new due date has been agreed of December 31, 2022.
