West Brom: Shilen Patel to only pay £5m to Guochuan Lai in 2024 as takeover breakdown emerges
Shilen Patel will pay Guochuan Lai £5million in 2024 for his takeover at West Brom, according to The Athletic.
The publication reported on its website on Friday (23 February) that the US businessman will pay only £10million guaranteed.
Breaking down the payment, The Athletic noted that Patel will pay Lai £2.5million upon completion, £2.5million in August this year, and £5.5million in August 2025.
West Brom fans surely excited about Shilen Patel takeover
It has been a long time coming, but there has finally been a takeover at The Hawthorns, with fans set to be delighted at the arrival of Patel.
Things have been very tough under Lai, with plenty of supporters venting their frustrations at the Albion chief in recent years.
The Athletic also broke down potential bonus payments with the takeover, with Patel to pay Lai an extra £18million if the club are promoted to the Premier League this season.
Promotion next year would result in a £10million payment, with that figure dropping down to £5million and £2million for promotions in the following two seasons respectively.
The takeover should provide the Baggies with a massive boost in various areas, but it has perhaps come too late this season for the club to return to the Premier League.
Carlos Corberan and his players are, however, certainly giving it a good go, with West Brom currently fifth in the Championship table.
In other West Brom news, Albion loanee Zac Ashworth is back-page news after what happened at Bolton Wanderers.
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