Following the completion of an agreement to acquire an interest in the Championship club, American businessman and entrepreneur Shilen Patel will take on the role of chairman of West Bromwich Albion.

The EFL has approved the £60 million buyout of the Championship club in order to obtain an 87.8% controlling interest.

More than £175 million was paid for the club eight years ago by Chinese businessman Lai to acquire it from Jeremy Peace. However, West Brom has been losing a significant amount of money since it was demoted at the end of the 2021 season and failed to make it back to the Premier League.

The agreement was mediated just in time because it was believed that the club was running low on funds. The club owes £28 million to the financial corporation, MSD.

The English Football League has authorized the takeover by Bilkul Football WBA, controlled by Florida-based Patel and his father, Kiran Patel

“West Bromwich Albion Group Limited, the parent company of West Bromwich Albion Football Club, has signed an agreement to buy an 87.8% interest in Bilkul Football WBA, LLC, a firm ultimately owned by Florida-based entrepreneur Shilen Patel and his father, Dr. Kiran C. Patel. According to a West Brom statement,

The EFL has accepted the takeover; exchange and completion are scheduled for next week.”

I look forward to the agreement closing next week,” stated Shilen Patel.

Guochuan Lai has been the owner of Albion, who are presently ranked sixth in the second tier, since 2016.

In January, BBC Sport revealed that Patel had emerged as a prominent contender to take over the club.

I am overjoyed and appreciative to have come to the decision to take on the role of West Bromwich Albion’s custodian, Patel declared.

Even in this, the birthplace of football, the club stands out thanks to its remarkable history, support system, and potential.

My objective is to assist in achieving a future deserving of its legacy as a leading elite club that summons the pride and fervor that have characterized Albion for many years.