West Bromwich Albion has a new owner after medical magnate Shilen Patel agreed to buy the club. The deal, valued at around £60m, ends the tenure of Chinese entrepreneur Lai Guochuan, who bought the club eight years ago for over £175m. The Baggies have been seeking a buyer for the past two years following their failure to return to the Premier League after relegation in 2021, which led to substantial financial losses.
The club owes £28m to finance company MSD, and the takeover was brokered just in time as West Brom was reportedly running low on cash. Patel's father, Kiran, built a fortune estimated at $400m in medical supplies, while Shilen owns a software company in Florida and has taken over the family business. He is understood to have close links to MSD, the main creditors.
A statement on the club's official website confirmed that Bilkul Football WBA, LLC – owned by Shilen Patel and his father – has agreed to acquire an 87.8% shareholding in the parent company. The takeover has been approved by the EFL, with exchange and completion due next week. Patel will become chairman of the football club.
Shilen Patel said: “I am thrilled and grateful to have reached an agreement to become the custodian of West Bromwich Albion Football Club. 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.”
