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West Bromwich Albion chairman Jeremy Peace stays frugal


Prudence the way forward for Peace

West Brom chairman Jeremy Peace insists the club must maintain a prudent financial policy if they are promoted back to the Premier League.

Peace believes the Baggies must make their plans based on a realistic view of the size of the Hawthorns club.

"We do need the Premier League revenue, so we have to try and get there," he told the BBC's Late Kick Off programme.

"But we don't want to break the club by spending far too much money when we're up there."

On the field, a run of four successive wins has West Brom on the verge of a Premier League return, leading third-placed Nottingham Forest by eight points in the Championship table.

We ended the financial year with £7 million of debt, which is more than enough

West Brom chairman Jeremy Peace

And Peace is prepared to be cautious once again as the Baggies continue their yo-yo existence between the top two divisions.

"Competing in the Premier League for a club of our size is very difficult. We're probably one of eight clubs who interchange positions with other clubs between the Championship and the Premier League," he noted.

"From that point of view you've got a different set of problems to deal with, you have to manage expectations and try to run the club properly from a financial point of view."

Certainly, the Hawthorns board has attempted to keep costs down following relegation last spring, with head coach Roberto di Matteo operating within some strict limitations.

"We've had a policy over the summer and into the season of almost selling to buy rather than buying and then hoping to sell a player," Peace stressed.

"We've been, from that point of view, relatively prudent but by the same token we've given it our best shot in terms of our resource.

"I suppose we've run the club relatively sensibly. Even so, we ended up at the end of the financial year with about £7 million of debt, which for a club of our size is more than enough."

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see also
West Brom 3-2 Preston
20 Mar 10 |  Championship
Fixture pile-up angers Di Matteo
19 Mar 10 |  West Brom
Swansea 0-2 West Brom
16 Mar 10 |  Championship

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