West Bromwich Albion’s Rescue from Financial Collapse: Fans Celebrate Takeover
West Bromwich Albion fans are rejoicing after the club announced that a new majority shareholder has been found. Shilen Patel, a businessman based in Florida, is set to acquire 87.8% of the Baggies’ parent company, West Bromwich Albion Group Limited. This news brings an end to Guochuan Lai’s reign at The Hawthorns, as the takeover is reported to be worth £60 million.
Lai, who purchased the club for over £200 million in 2016, had been under pressure to sell due to the club’s failure to repay loans. West Brom had been seeking a new buyer as they faced increasing financial losses, with more than £20 million borrowed from MSD Holdings Limited. However, with Patel’s acquisition, there is newfound hope for the future of the Championship side.
Fans took to social media to express their delight at the news. One supporter exclaimed, “This is the best news ever!” while another said, “I actually think I’m going to cry.” The joyous reactions continued with one fan thanking Mr. Patel and another stating, “Not stopped smiling for the last 15 mins hahahahaha FINALLY.”
Upon the announcement of the takeover, which has received approval from the EFL, Patel expressed his excitement. He 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.”
Patel also emphasized his goal of helping the club achieve a future worthy of its history as a pioneering top-flight club that has embodied pride and passion for generations. He is eager to get started at The Hawthorns and looks forward to the completion of the deal next week.
Under the management of Carlos Corberan, West Brom currently sits fifth in the Championship and has its sights set on returning to the Premier League after their relegation in 2021. Their next match against fellow promotion hopefuls Southampton will be broadcast live and exclusively on talkSPORT 2.
The takeover of West Bromwich Albion by Shilen Patel has brought a wave of excitement and hope for the future. Fans can now look forward to a fresh start under new ownership as they continue their journey towards reclaiming a place in the Premier League. With Patel’s passion for the club’s history and potential, West Bromwich Albion seems poised for a bright future ahead.