Shilen Patel, a Florida-based entrepreneur, and his father have reached an agreement to assume control of West Brom.
The EFL approved the Championship club’s buyout, valued at £60 million, to acquire Guochuan Lai’s 87.8 percent majority interest earlier in February.
According to a West Brom statement, Bilkul Football WBA, LLC, which is ultimately owned by Florida-based entrepreneur and his father Dr Kiran C. Patel, has acquired an 87.8 percent stake in West Bromwich Albion Group Limited, the parent company of West Bromwich Albion Football Club.
“The takeover, which received EFL approval earlier this month, completed on Wednesday afternoon.”
Shilen Patel, who has held a minority stake in Serie A team Bologna since 2014, has been chosen the next Baggies chairman.
He was quoted as saying: “I am delighted and humbled to become the new custodian of West Bromwich Albion Football Club.”Today marks the start of an exciting project for the club to reclaim its place as a regular Premier League fixture.
“Success does not happen quickly, but it is my desire to build on the club’s present and historical strengths and surround West Bromwich Albion with high-quality stakeholders both domestically and internationally.
“I am also privileged to inherit and continue The Albion Foundation’s tremendous work 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.”
West Brom are seventh in the Sky Bet Championship table with 12 games remaining.
