February 28, 2024, 17:06 GMT
Updated 28 minutes ago
image source, Rex functions
image description,
Shilen Patel is also a minority shareholder in Bologna in Serie A
Shilen Patel has completed the takeover of Championship club West Brom from Chinese businessman Guochuan Lai.
The American, who is now the majority shareholder, has also become the new chairman of the Baggies.
Bilkul Football WBA – a company owned by Florida-based entrepreneur Patel and his father Kiran Patel – has acquired an 87.8% stake.
“I am honored to become the new keeper of West Bromwich Albion,” said Shilen Patel.
Since 2014, Patel has also owned a minority stake in Italian Serie A club Bologna.
Albion are well placed in the fight for a place in the Championship play-offs and are in fifth place under head coach Carlos Corberan – 16 points shy of an automatic promotion place but four points clear of their pursuers.
“Success doesn’t happen overnight”
The Baggies have not played in the Premier League since their relegation at the end of the 2020/21 season, having lost their top flight status twice under Lai.
“Today marks the start of an exciting project for the club to regain its reputation as a consistent Premier League player,” Patel added.
“Success doesn’t happen overnight, but my aim is to build on the club’s current and historical strengths and surround West Bromwich Albion with high caliber stakeholders at home and abroad.”
“I am also fortunate to be able to take on and continue the great work of the Albion Foundation at home and abroad.
“I am humbled by the opportunity to help write the next chapter in the Baggies’ history and am committed to being a responsible, respectful and effective steward of the club.”
The American has also previously invested in companies across five continents, including technology, healthcare, real estate, finance, food and beverage.
Where is Albion now?
Albion are in their fifth of six seasons outside the Premier League, something they have not experienced for more than two decades.
They will no longer receive parachute payments and fans remain angry over Lai's inability to repay the £5m he is owed from a loan received from the club following the Covid pandemic in March 2021.
Albion's first task under the new Patel regime will be to take all three points from Midlands promotion rivals Coventry City on Friday.
Lai in the Black Land
How the time went under Lai:
Comments are closed.