West Brom new owner: Who is Shilen Patel - estimated net worth after £60m takeover from Guochun Lai

Championship promotion contenders West Bromwich Albion will begin a new era of ownership under Florida-based businessman Shilen Patel.

Patel has agreed a £60m deal to take ownership of the team and now has an 87.8 percent stake in the West Midlands outfit after approval from the English Football League. The deal ends Guochuan Lai’s ill-fated reign at the Hawthorns and it is understood that the Chinese businessman will lose a substantial amount on the club that he purchased for £200m back in 2016. Patel told supporters that he is “thrilled” to have reached an agreement to become the custodian of the club and has set out his aims to help the team achieve a future worthy of its history as a pioneering top-flight club.

The 43-year-old is expected to attend tonight’s crucial Championship clash against third placed Southampton. But who is Shilen Patel and what can Baggies fans expect from their new owner? Here’s all you need to know:

Who is Shilen Patel?

Shilen Patel is a 43-year-old businessman and the founder and CEO of HealthAxis Group, a software company based in Tampa, Florida. According to its Linkedin page, the group is at the forefront of transforming healthcare delivery in the United States through state-of-the-art technological solutions. Patel is a serial investor with experience in technology, healthcare, sport, real estate, finance, food and beverage and other sectors across the world.

Patel is no stranger to the world of football and has already garnered over a decade of experience in the game as minority shareholder in Serie A outfit Bologna. The Northern Italian side are currently exceeding expectations in the league under manager Thiago Motta - they are in fifth position and chasing qualification for the Champions League for the first time since 1965.

What is Shilen Patel’s net worth?

According to Birmingham Live, Patel’s father Dr Kiran Patel has an estimated wealth of £317.9m. Shilen has recently taken over the family business, which claims to have around £1.58bn in assets under management.