West Brom chairman Jeremy Peace has closed the door on takeover talks.

Peace has issued a statement confirming Thursday's deadline for new investors passed with the phone lines staying silent.

He said: "We were prepared to welcome proposals for a long-term relationship, with a new substantial investor to help establish Albion as a successful Premier League club.

"We stated we would shut the door on this at the end of July, because we did not want anything off the pitch impacting on the new season.

"There has been some initial contact from a few third parties but we have received no firm proposals whatsoever.

"During the past seven weeks it has been business as usual, as we endeavour to strike the right balance between organising the club's finances and giving ourselves as good a chance as possible of establishing Albion in the Premier League."