The Midlands club has confirmed they have spoken to an agent about letting the market know they are looking for investment.
But chairman Jeremy Peace, who owns 89.9% of the club, remains in a hands-on role at The Hawthorns and his commitment remains strong.
He has, though, not ruled out selling his controlling stake for the right offer as the club looks to assess options in the wake of the Premier League’s new television deal.
Albion believe the deal will make Premier League clubs more attractive than ever to new investment.
Peace made a public appeal for fresh investment in 2008 but received no offers.