ALBION FINANCE:
Patel Investment, MSD Loan Updates & Latest Accounts

West Brom endured a rather eventful 2025-26 campaign that concluded with survival, despite being docked two points by the EFL for financial breaches in the previous campaign.

Things had seemingly been looking a lot more stable under the tenure of Shilen Patel and Bilkul Football, having taken over the club from Guochuan Lai back in February 2024. However, it emerged in April that West Brom had breached Profit and Sustainability Rules (PSR) in 2024-25, resulting in the rather swift punishment.

Still, whether the judgement was harsh or not, this was a wake-up call for Patel & Co and shows that the Baggies are still not fully over the financial concerns of the past.

Financial Status Report: March 2026

Net Operating Loss £17.0m

Capital Injection £17.6m

Total Turnover £30.4m

Bilkul Commitment

Bilkul Football WBA has continued its substantial commitment, providing £17.6m in additional capital. Crucially, the ownership has taken on the obligation to pay all interest arising from the MSD loan since the February 2024 takeover.

Debt Clearance

The club is systematically clearing the remnants of the previous regime. The outstanding balance of the MSD loan is officially scheduled for full repayment by December 2026, removing a significant long-term liability from the books.

The P&S Outlook

Operating losses have been slashed from £31.3m to £17m. Due to reduced staff costs (£37.1m) and strategic player trading, the club remains in a strong position regarding the EFL’s Profit and Sustainability rules.
STATUS: COMPLIANT

Part of the Baggies’ strategy is to raise money through player sales, and they managed to total £8.2million through to sale of academy product Alex Palmer to Ipswich Town, and some of the cash from selling Brandon Thomas-Asante to Coventry City (which was spread over more than one year). The purchases of Torbjorn Heggem, Mikey Johnston, Callum Styles, Isaac Price, Tammer Bany and Nat Phillips accounted for £5.4m in the same period.

Crucially, departures made since the summer and beyond are not reflected in the most recent accounts. Homegrown talents Tom Fellows and Caleb Taylor joined Southampton and Millwall respectively, while Heggem’s £10m sale to Bologna will also be included in the numbers for next year. Meanwhile, the Baggies received a £2.55m compensation fee from Valencia for former boss Carlos Corberan following his departure on Christmas Eve in 2024.

Transfer Activity Report: 2024/25

Total Player Sales £8.2m

Total Player Purchases £5.4m

Net Trading Profit £2.8m

Trading Strategy

The club generated £8.2m from player departures during the accounting period. This represents a disciplined approach to moving on high-value assets to ensure the club remains self-sustaining under the new ownership model.

Squad Reinvestment

Albion reinvested £5.4m into the first-team squad. While the spend was lower than the income, it marks a shift toward capital-efficient recruitment, focusing on younger talent with high resale potential rather than aging high-wage earners.

Who are the key West Brom boardroom and background figures?

Ever wondered who are the key decision-makers in the West Brom boardroom? Beyond Shilen Patel there is a whole technical structure working to help build the Baggies back towards their ultimate goal of reaching the Premier League (even if the immediate task at hand is maintaining Championship survival).

Below is a list of all the key names working behind-the-scenes to make things tick at The Hawthorns.