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Florida-based entrepreneur Shilen Patel and his father Kiran C. Patel have acquired an 87.8% stake in West Bromwich Albion, the English second-tier club said on Wednesday.
The purchase was approved by league governing body EFL this month. Shilen Patel, who also owns a minority stake in Italian Serie A club Bologna, has been named West Brom chairman.
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“Today marks the beginning of an exciting project for the club to regain its standing as a consistent Premier League presence,” Patel said in a statement.
West Brom, who won their only English top-flight title in 1920 and lifted the FA Cup trophy for the fifth time in 1968, were relegated from the Premier League in 2020-21, a year after being promoted.
“Success does not occur overnight, but it is my ambition to build on the club’s current and historical strengths,” Patel added.
Fifth in the Championship, West Brom host Coventry City on Friday.