Stanley initially became involved in the club as an executive club member and was invited onto the board in the late 1980s.
Current director Ray Bloom, who served alongside him on the board, said, “On behalf of the club I would like to pass on our condolences to Greg’s family and friends.
“For those who don’t know, Greg invested a considerable amount of money to help the club stabilise following relegation to the third tier.
“His investment enabled Barry Lloyd to rebuild the team and win promotion at the first attempt during the 1987/88 season.
“It also paved the way for the club to reach the 1990/91 end-of-season Play Off Final – and it is only right that he is acknowledged for that, regardless of what happened since then.
“Greg never had any desire to be the chairman of the club or to get involved in the day-to-day running of the Albion.
“Parts of the story, in terms of what happened subsequently with the sale of the Goldstone, are well known. Other individuals who were involved had very little regard for the club.
“But now is not the time for that, and it would not be a fair accusation of Greg to say he didn’t care for the club.
“He was always a warm-hearted, genuine man and one who had the best intentions.
“Sometimes it was difficult for him to carry out those intentions, for a number of different reasons, but he should be acknowledged for the good things he did for the club.”