West Brom accounts show MSD loan interest recharged to Bilkul amid EFL charge | OneFootball

Interest linked to West Bromwich Albion’s alleged financial rules breach was recharged to owners Bilkul. The EFL charge, understood to centre on £5.2m of MSD loan interest and liability under PSR, could threaten their Championship status.

Parent company West Bromwich Albion Group took two loans from Michael Dell’s MSD Holdings late in Guochuan Lai’s tenure. A £20m facility agreed in October 2022 was extended by £8m in November 2023 for working capital amid no Yunyi Guokai investment and without parachute payments.

Owner and chairman Shilen Patel has injected cash to meet interest costs, and from Albion’s perspective the interest has been taken on by Bilkul Football WBA. Directors continue to recognise the MSD loan obligations within West Bromwich Albion Group, with interest recharged to Bilkul.

The club said in a statement that they believe they have complied with profit and sustainability rules, which cap three-season losses at £41.5m, and the case will be heard. The accounts, audited by Birmingham firm Azets, were filed to the Football League by 31 December for compliance checks.

A hearing is expected in April and must be held within 28 days of the compliance report from the EFL’s club financial reporting unit. The timing of the charge has alarmed supporters.

Albion, two points clear of the Championship relegation places, visit mid-table Preston on Saturday, the first of four remaining games. Any appeal could extend the process beyond the final day, when they travel to rock-bottom Sheffield Wednesday.

Source: ExpressAndStar.com