London: West Bromwich Albion have broken off talks with a potential buyer, the Premier League club said on Friday.
The Midlands club have reportedly been in negotiations with a Chinese consortium, but owner Jeremy Peace said the period of exclusivity entered into earlier this month had ended.
"I entered into an exclusivity arrangement in good faith after agreeing terms for the sale but it is now clear to me that this potential purchaser is unable to fulfil the terms of that agreement at this time," Peace said in a statement.
"The club`s long-term stability and continued development is of paramount importance and I am not satisfied that the interests of West Bromwich Albion would have been best served by my continuing discussions at present."
Peace said other parties had shown interest in the club.
"It is true that both before and since the exclusivity announcement was made, other parties have expressed strong interest in a purchase of the club and therefore that process remains ongoing," he said.
West Brom finished 13th in the league last season under manager Tony Pulis.