West Brom’s takeover is DONE! Florida-based entrepreneur Shilen Patel completes £60m deal to buy 88% stake in the Baggies – ending Guochuan Lai’s disastrous tenure

28 February 2024 0 By Total Football News
  • American businessman Shilen Patel has completed his takeover of West Brom
  • It signals the end of Guochuan Lai’s disastrous tenure at the football club
  • Manchester United’s Sir Jim Ratcliffe can rebuild the stadium, build a museum… but they should pay for it – It’s All Kicking Off podcast 

Florida-based entrepreneur Shilen Patel and his father have completed their takeover of West Brom.

The deal to acquire Guochuan Lai’s 87.8 per cent majority shareholding, worth a reported £60million, had already been approved by the EFL.

The Sky Bet Championship club confirmed the formalities of the takeover by Bilkul Football WBA, LLC – a company owned by Patel and his father Kiran Patel – were completed on Wednesday afternoon.

‘I am delighted and humbled to become the new custodian of West Bromwich Albion Football Club,’ new Baggies chairman Patel told the club’s website.

‘Today marks the beginning of an exciting project for the club to regain its standing as a consistent Premier League presence.

US businessman Shilen Patel, pictured as CEO of HealthAxis, will acquire an 87.8 per cent stake in the club

Florida-based entrepreneur Shilen Patel and his father have completed their takeover of West Brom 

Patel will take an 87.8 per cent stake in the club, buying out previous majority owner Guochuan Lai (pictured)

Patel will take an 87.8 per cent stake in the club, buying out previous majority owner Guochuan Lai (pictured)

West Brom sit fifth in the Championship table as they chase a play-off place.

‘Success does not occur overnight, but it is my ambition to build on the club’s current and historical strengths and surround West Bromwich Albion with high quality stakeholders at home and globally,’ said Patel, who has owned a minority shareholding in Serie A club Bologna since 2014.

Patel stated that it was 'his ambition to build on the club's current and historical strengths'

Patel stated that it was ‘his ambition to build on the club’s current and historical strengths’ 

Carlos Corberan's side currently sit fifth in the Championship table having lost only one of their last five matches

Carlos Corberan’s side currently sit fifth in the Championship table having lost only one of their last five matches

‘I am also fortunate to be inheriting and continuing the great work of The Albion Foundation at home and abroad.

‘I am in awe of the opportunity to help write the next chapter in Baggies history and am committed to being a responsible, respectful, and effective steward of the club.