Inside story of how £60m takeover brought hope back to West Brom

Florida-based entrepreneur has grand designs for one of Football League’s founder members and has already set out a clear roadmap

After the darkest period in their recent history, in which a deepening financial crisis threatened their very future, West Bromwich Albion are finally dreaming of a new beginning. 
Albion’s £60 million takeover by Shilen Patel has removed the clouds of negativity and saved one of the Football League’s founder members from some desperate decisions.
The arrival of the Florida-based entrepreneur ends the stormy tenure of Guochuan Lai, after seven-and-a-half years, and the rebuilding job is already under way.
Under their highly regarded head coach Carlos Corberan, West Brom can at last plan for a future without an existential threat hanging over them. Make no mistake, this club could easily have become the next Reading or Derby County had Patel not come to the rescue.
A humble, yet clearly wealthy man, Patel has grand designs for his new football club with the ultimate goal a return to the Premier League and then keeping them there. Ever since he first made his interest known in September, West Brom’s senior staff identified him as the preferred bidder to buy the club. 
Patel held talks with Corberan the following month to discuss his plans, and almost six months later, the pair are now in regular contact on WhatsApp.
The takeover was completed this week, perhaps a few weeks later than anticipated, but Albion now have optimism for the journey ahead.
Before considering the next chapter, it would be pertinent to reflect on the turbulence of the past few years.
Losing over £2 million a month is sadly pretty standard for most Championship clubs, but West Brom’s financial outlook was bleak to say the least. Administration was a genuine possibility down the line, with Lai’s lack of engagement a constant source of exasperation for club staff.
It tells you everything about Lai’s absence of interest that Patel has already equalled the amount of games he attended – one – in the past four years at the Hawthorns.
Patel was also in town for the home game against Cardiff City on Tuesday February 13 but the takeover was delayed for a few more days. 
The most polite way of describing Lai’s tenure is that he was essentially a decent man who got in way over his head. The Chinese businessman completed his takeover in September 2016, buying the club from Jeremy Peace for around £200 million.
At that time, West Brom were stable in the Premier League and, despite the outside perception of being a “yo-yo club”, had been in the top flight since 2010. Under former manager Steve Clarke, they finished eighth in 2013.
Lai was intent on using an historic football club to enhance his other businesses and portfolio in China. Self-sustainability was the business model, and he never made any secret of that. No cash outside of TV and Premier League monies were ever invested.
To the annoyance of club staff, he actually took money out of the club in the form of loans which were never paid back and drained finances even further.
This was a result of his businesses suffering major damage during Covid, while restrictions from the Chinese government over money leaving the country were an added layer of trouble.
Lai’s popularity with fans expired long before the parachute payments ran out this summer, following relegation in 2021. As a result of his disengagement, there were genuine fears over what might happen.
Administration, fire sales of players and staff cuts were all possible. The loans taken from American investment company MSD, totalling £28 million, were flashing red lights.
There was a permanent air of uncertainty. Daily problems were the norm, and the leadership of managing director Mark Miles, plus other senior staff, was crucial to keep the ship on a straight course.
The tireless work of fans groups Action For Albion and Shareholders For Albion was also pivotal in keeping the pressure on Lai to sell up and move aside.
In Patel’s introductory interview on the club website, which totalled 1,978 words, he provided more transparency in one day than Lai ever did.
Patel has already set out a clear roadmap. He wants to be fully in tune with all sides of the club, and will regularly attend matches.
He recognises the club as a huge asset for the local community – indeed, his favourite player is academy product Tom Fellows.
Crucially, Patel also recognises that Corberan is an excellent operator.
The Spaniard arrived in October 2022 and has proved a brilliant appointment, emerging as an emblem of hope through a troubled period.
Remarkably, he is now the fifth longest serving manager in the Championship, behind Mark Robins, Ryan Lowe, Kieran McKenna and Michael Carrick.
Without question, Corberan remains their greatest weapon. A very shrewd coach with a high attention to detail, he has performed one of the most underrated jobs outside the Premier League to keep West Brom competitive amid all the uncertainty.
Albion face Coventry on Friday night and could open up a seven-point gap to seventh place with a victory.
The mood is now transformed and there is a buzz of excitement over what the future holds. Finally, the focus can return to football matches and, perhaps, promotion at the end of the season.