West Brom takeover agreed for £60m

The Hawthorns, home of West Brom

Florida-based entrepreneur Shilen Patel and his father have agreed a deal to take control of West Brom which is set to be completed next week.

The takeover of the Championship club, worth a reported £60m, to acquire Guochuan Lai’s 87.8 per cent majority shareholding has been approved by the EFL.

A statement from West Brom read: “Bilkul Football WBA, LLC – a company ultimately owned by Florida-based entrepreneur Shilen Patel and his father Dr Kiran C. Patel – has reached an agreement to acquire an 87.8 per cent shareholding in West Bromwich Albion Group Limited, the parent company of West Bromwich Albion Football Club.

“The takeover has been approved by the EFL, with exchange and completion to take place next week.”

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Shilen Patel, who has owned a minority shareholding in Serie A club Bologna since 2014, is set to be named as the new Baggies chairman.

“I am thrilled and grateful to have reached an agreement to become the custodian of West Bromwich Albion Football Club,” he said in a statement.

“The club’s exceptional history, support, and potential set it apart even here in the cradle of football.

“My goal is to help the club achieve a future worthy of its history as a pioneering top-flight club that marshals the pride and passion that have defined the Albion for generations.

“I am excited to get started at The Hawthorns and look forward to the deal completing next week.”

Patel – whose background is from experience in technology, healthcare, sport, real estate, finance as well as food and beverage – is expected to attend Friday night’s home match against third-placed Southampton, live on Sky Sports.

West Brom sit fifth in the Championship table.