Crypto investor Fred Chesnais is in talks with West Brom over a £60m takeover, with owner Guochuan Lai desperate to sell the financially-troubled Championship club

West Brom are in talks over a £60million takeover from Crypto investor Fred Chesnais.

Mail Sport has learned that the French businessman is ready to make a cash offer for the Championship club and all its assets, including the Hawthorns and their training ground.

Chesnais is the founder and chief executive of Crypto Blockchain Industries, a company who invest in blockchain-based services across the sport and entertainment industries.

The 59-year-old trained as a lawyer before joining video game company Atari, where he was chief executive until leaving to form his own production company.

Chesnais’ bid is understood to be the first offer to buy the entire club since owner Guochuan Lai cut his asking price to £65m after Carlos Corberan’s side failed to win promotion to the Premier League last season.

The Chinese businessman is desperate to sell and refusing to provide further investment, leaving the club reliant on player sales to continue trading. Captain Dara O’Shea was sold to Burnley for £7m last month and more sales are expected before West Brom begin their Championship campaign in a fortnight.

Lai paid £200m for West Brom seven years ago, but the club are beset by financial problems which is deterring potential investors.

For the first time since 2002 West Brom will not receive any Premier League merit payments next season as they are no longer entitled to parachute money, whilst they also owe £20m to private equity company MSD Capital, which is secured against the Hawthorns.

Egyptian businessman Mohamed Elkashashy has offered to buy a minority stake in the club, but Lai is seeking a full sale.

Chesnais declined to comment.

West Brom declined to comment.