West Bromwich Albion: Florida-based Shilen Patel emerges as likely buyer

Guochuan Lai took over from Jeremy Peace at West Bromwich Albion in 2016

United States businessman Shilen Patel has emerged as a significant candidate to take over West Bromwich Albion.

It was only confirmed in November that Baggies owner Guochuan Lai, who bought out Jeremy Peace in September 2016, has been trying to sell the club.

Lai is understood to have been in talks with a number of potential purchasers for an extended period of time.

And sources close to the talks believe that clarity on the situation is now getting near.

Florida-based Patel's background is in the health sector, where his father made his fortune through insurance.

He was listed as a 'serial entrepreneur and investor' when he was named as a trustee for the University of South Florida in 2021.

Albion have twice lost their Premier League status since Lai bought the club for about £175m.

After finishing bottom in 2018, they did go back up in 2020 under Slaven Bilic. But they are now in their fifth season out of six outside the Premier League, something they have not experienced in more than two decades.

They are no longer in receipt of parachute payments and fans remain furious at Lai's failure to repay the £5m he owes from a loan received from the club following the Covid pandemic in March 2021.

In November, the club confirmed it had taken out another loan for an unspecified amount from American investment group MSD Holdings, on top of the £20m they borrowed in December 2022, to help with "ongoing funding".

Patel appears to have the backing of MSD, which, clearly, is a key voice in the whole situation.

Albion sit fifth in the Championship, after an unexpectedly vibrant first half of the season under much-admired head coach Carlos Corberan, who has made light of their off-field issues.