​West Brom are set to become the latest Premier League side to have foreign owners as Jeremy Peace closes in on selling the club for £150m. 

According to The Mirror, Peace's protracted two-year process of selling will finally be concluded in the next two weeks. The buyers are not identified in the report, but they are thought to be a Chinese business. 

Peace, who bought West Brom 15 years ago, is expected to quit along with chief executive Mark Jenkins. Peace and his team have reportedly worked on closing the deal over the last few weeks and it now looks as though the Baggies will get a significant injection of cash from the foreign investors. 

A source is quoted in the Mirror's report as saying: "You’ll be able to measure their wealth in billions, not millions."

Rumour has it that the buyer could be Wang Jianlin, the richest man in China, who has been looking to invest in Premier League football for some time. He currently holds a 20% interest in Atletico Madrid. 

Jianlin has a net worth of $31.5bn, earned through being Chairman of the Dalian Wanda Group, China's largest real estate developer, as well as the world's largest movie theater operator.

West Brom have been relatively quiet in the transfer market so far, with Tony Pulis only making one signing in QPR's Matt Phillips. If the deal is concluded soon, the Baggies are expected to be extremely busy during the rest of the window. 

West Bromwich Albion v Liverpool - Premier League