One of Leeds United’s Championship rivals is going to be acquired in a transaction worth an estimated £60 million..
Leeds United’s Championship rivals West Brom have announced a deal has been agreed and approved by the EFL for the takeover of the club by Florida-based entrepreneur Shilen Patel and his father.
The deal is worth a reported £60million with the pair purchasing Guochuan Lai’s 87.8 per cent majority in the club, with the takeover to be finalised next week. Patel has owned a minority stake in Serie A side Bologna since 2014 and is set to be appointed as chairman at the Hawthorns.
A club statement 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.”
Shilen Patel added: “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 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.”
