Albion are looking at new ways of bringing in money.

The club have reported a profit of £122.8 million for the 2022-23 season.

It is understood the picture for this season is also looking good with a profit on transfer dealings of £51m, thanks largely to the sale of Moises Caicedo.

Chief executive and deputy chairman Paul Barber is keen to increase turnover.

He said: “We still feel we have room to grow our brand and, when you grow your brand, it means other companies around the world start to take an interest in you.

“Recently we have added British Airways to our stable of partners, which is a fantastic coup for us.

“It was one that a very big club in North London was chasing and we got in there ahead of them, which was fantastic. We are delighted with that.

“We think we can grow revenues in our close-season more.

“Last season we want to the US, this season we are exploring some opportunities in the Far East.

“We feel there is more to do on the merchandise front.

“We are already achieving record sales of replica kit and other merchandise.

“We are in the final stages of negotiations with Nike to extend our deal further with them.

“With that would be an expansion of the product ranges they offer to us, more in line with the bigger clubs they partner.

“We think there are opportunities on non-matchdays to continue to grow events and, yes, potentially concerts.

“Concerts are so hard because the pitch is a precious commodity and secondly you have got to have the right window coinciding with any touring band or artist that has to align so perfectly that it is far more difficult than people realise to pull that off.

“From that point of view there are lots and lots of different opportunities that we feel we can grow and build on.

“Like every other club, we are always searching for the new ones that have yet to be discovered.

“The digital space is the obvious area we feel at the moment we are under-exploited and we are building a team with capabilities and expertise here to make that more valuable for us going forward.”