Shilen Patel takes on ‘significant’ West Brom debt to West Ham United – Chris Lepkowski
Shilen Patel has taken on a “significant” West Brom debt to Premier League side West Ham United, according to Chris Lepkowski.
Lepkowski wrote for The Far Post on Sunday (18 February) that the club’s new owners owe the Hammers an outstanding payment for Grady Diangana.
As per the official West Brom website (15 February), Patel’s company has agreed to acquire an 87.8% shareholding in the Baggies.
“The club has effectively been sold for about £20m – paid for over a period of several instalments – if you take into account debt of just over £35m,” wrote Lepkowski. “The new owners take on a wage bill that is forcing the club into arrears of £2m each month.
“The club still have significant outstanding payments to West Ham (Diangana) and Huddersfield (Grant), along with other transfer related add-ons, though it is worth pointing out that transfer fees are often staggered – for accounting and tax reasons.”
How quickly will Patel pay off his West Ham debt at West Brom?
Baggies fans all over the world will have been thrilled with the takeover news at The Hawthorns, which really has been a long time coming.
The days of Guochuan Lai will be over soon, with the Baggies faithful set to be relieved more than anything after his turbulent time at the club.
Perhaps they do not know too much about Florida-based entrepreneur Patel and his history, but his reign surely cannot be worse than anything that has taken place at the Midlands club in recent years.
He does, however, arrive with plenty of issues on his plate, but if he has any sense, Patel will have familiarised himself with those issues before going through with the deal.
Winger Diangana has produced plenty of memorable moments during his time at The Hawthorns, but he certainly hasn’t come without a hefty cost.
All the player can do to please his new owners is perform on the pitch, with the attacker definitely needed at West Brom as they look to mount a serious promotion push under talented manager Carlos Corberan.
In other West Brom news, Scott Sinclair has sent a message to one Baggies star after what he did in the recent win against Cardiff City.
For more West Brom news, follow us on Facebook or join our brand new WhatsApp Channel for instant updates to be sent straight to your phone.