West Bromwich Albion Football Club can confirm an independent investigation into a 2014 loan to West Bromwich Albion Holdings Limited will commence in the new year.
The club authorised the independent investigation following consultation with Shareholders for Albion – an organisation representing 430 minority shareholders of West Bromwich Albion Group Limited.
The terms of reference document for the investigation, which is expected to conclude within six months, has been signed and a King’s Counsel barrister has been appointed to produce an independent report.
Albion Chief Executive, Ron Gourlay, said: “When I joined the club in February, I was asked by Shareholders for Albion to investigate the 2014 loan, and we have since worked with the group to agree the terms of reference for an independent investigation.
“I am confident the appointed King’s Counsel barrister will compile a thorough and detailed report which, whatever the outcome, will help us to move forwards in the best interests of the club.”
Shareholders for Albion Vice-Chair, Leigh Kent, added: "It is well documented that securing an independent investigation is something which Shareholders for Albion has pursued for a number of years.
“We are grateful to Ron Gourlay for commissioning the investigation and working positively with us to agree reasonable and objective terms of reference."
The club and Shareholders for Albion will make no further comment on this matter until the investigation has reached a conclusion.