West Brom chairman Jeremy Peace has ended the search for an investor in the club for the time being after no offers were received.

In June, majority shareholder Peace invited potential investors to get in touch, as he sought to attract the financial muscle which would allow West Brom to compete with wealthier clubs in the Premier League.

In an attempt to avoid the kind of protracted takeover wrangle which so damaged Birmingham last season - ending in Blues' relegation after Carson Yeung tried and failed to take control at St Andrews - Peace set a deadline of July 31st for talks.

Despite some tentative approaches from interested parties, Peace received no firm offers for his stake.

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

"We said 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."

Peace insists it is now full steam ahead for the new season and he is confident the Baggies can look forward to their first campaign back in the big time with confidence.

"We proactively invited a new investor with substantial resources to contact the club," he said. "Although no-one has come forward, the club have been planning more ambitiously and aggressively than ever before for the new season and we are very much looking forward to once again competing in the Premier League."

Peace has also insisted his absence from transfer talks was not the reason Algeria defender Madjid Bougherra snubbed the club in favour of a transfer to Rangers.