Takeover

[Borin' Baggie]

But, but, but I thought Captain_ITK was bullshitting?

---

Any Tories able to cut and paste on here?

West Bromwich Albion are in advanced talks with American entrepreneur Shilen Patel over a potential takeover of the Championship club.

Patel has emerged as the preferred choice for Albion’s owner Guochuan Lai, with a period of exclusivity set to be granted this month.

Previously the founder and chief executive of HealthAxis Group, a software company based in Tampa, Patel and his party are understood to have made progress in recent weeks over ending Lai’s seven-year ownership.

Telegraph Sport revealed last month that three parties were keen to buy West Brom, who are beset by financial difficulties and facing the prospect of losing first-team players in the January transfer window.

Patel is now at the front of the queue to complete a takeover, which will cost an estimated £30-35 million plus the additional loans to take the overall price closer towards £60 million.

The son of Dr Kiran Patel, whose net worth is an estimated $400 million, Patel has now assumed control of the family business.

Patel would have to pass the English Football League’s owners and directors’ test and, at this stage, there is no indication on how close the takeover will be.

Sources have confirmed, however, that talks are ongoing and there is a degree of optimism over a deal being completed.

Lai acquired the West Midlands club from Jeremy Peace for more than £200 million in July 2016.

He has come under heavy scrutiny after declining to pay back a £5 million loan which was paid to one of his companies in June 2021.

There is also an outstanding loan from the club to Peace’s company WBA Holdings Ltd which now stands at £5 million after interest. A further £2 million was taken out in September 2021, with Lai borrowing money from an independent lender that is not owed to the club.

Lai has also been unable to provide investment outside of television money and parachute payments, while borrowing over £20 million from American investment company MSD Holdings Limited, plus an additional loan last month.

West Brom are currently fifth in the Championship table under their highly regarded head coach Carlos Corberan. They face Blackburn at home on Saturday.

[CarlosCorbewrong]

Hang on the Dad is only worth $250m?

https://www.therichest.com/celebnetworth...net-worth/

Can't be right surely? So his son would be considerably less wealthy...

I know you're desparate to piss on this but... like most of these articles... do you think they actually know anything?

If you were worth $250m would you donate $200m to charity?  https://www.bbc.co.uk/news/world-us-canada-41587429

Just read to the end of that article:

"When their son, Shilen, was nine, he returned from school one afternoon and asked, "Dad, are we rich?"

They were taken aback, but her husband responded: "Maybe I am rich but you are not."

"This is how we reminded them that they have to make their life on their own," she says."

[CaptainFantastico]

They are certainly worth a fair bit more than 250m

[Kit Kat Chunky]

Hang on the Dad is only worth $250m?

https://www.therichest.com/celebnetworth...net-worth/

Can't be right surely? So his son would be considerably less wealthy...

if I was only worth £200M, I wouldn't be spunking £60M of it on West Brom.

[CarlosCorbewrong]

Hang on the Dad is only worth $250m?

https://www.therichest.com/celebnetworth...net-worth/

Can't be right surely? So his son would be considerably less wealthy...

if I was only worth £200M, I wouldn't be spunking £60M of it on West Brom.

So that's why he's partnering up with the Egyptian lad.

[Midget In A Pinstripe Suit]

Hang on the Dad is only worth $250m?

https://www.therichest.com/celebnetworth...net-worth/

Can't be right surely? So his son would be considerably less wealthy...

if I was only worth £200M, I wouldn't be spunking £60M of it on West Brom.

So that's why he's partnering up with the Egyptian lad.

I had no idea Barry Bannon was Egyptian, you learn something new everyday.

[NewWanker]

Hang on the Dad is only worth $250m?

https://www.therichest.com/celebnetworth...net-worth/

Can't be right surely? So his son would be considerably less wealthy...

I know you're desparate to piss on this but... like most of these articles... do you think they actually know anything?

If you were worth $250m would you donate $200m to charity?  https://www.bbc.co.uk/news/world-us-canada-41587429

Not desperate to piss on it, I hope they prove me completely wrong, it all just seems very Lai like. And that has me concerned. I saw the $200m donation, but that won't really be from his own wealth. Even in Borin's copy n paste above it quotes$400m, again that's the dad.

So the dad's worth is around $325m... that's the dad. the son has control over a business that has about $2bn investments.

these aren't the massively wealthy owners we were promised by some ITKers, it hasn't happened when was said by some ITKers, in short, i'm concerned that if it is these then we might only be better off in that we won't need a fire sale, hopefully I'm wrong.

Oh and for full measure the dad's company was involved (with the dad being named in the suit) in a case when some whistle blower showed their business was doing dodgy stuff, that cost them £31m so they're no against bending rules too, which could impact the fit people's test? (or could be why it's the son doing this and not the dad directly?0

These are more a meh than a wow, to me.

[Remi_Moses]

Lai was said to have a personal fortune of £4 Billion

[Psalm23]

Hang on the Dad is only worth $250m?

https://www.therichest.com/celebnetworth...net-worth/

Can't be right surely? So his son would be considerably less wealthy...

I know you're desparate to piss on this but... like most of these articles... do you think they actually know anything?

If you were worth $250m would you donate $200m to charity?  https://www.bbc.co.uk/news/world-us-canada-41587429

Just read to the end of that article:

"When their son, Shilen, was nine, he returned from school one afternoon and asked, "Dad, are we rich?"

They were taken aback, but her husband responded: "Maybe I am rich but you are not."

"This is how we reminded them that they have to make their life on their own," she says."

He's also got a Bombardier private jet which come in between 42 - 72 million.

[Kit Kat Chunky]

Hang on the Dad is only worth $250m?

https://www.therichest.com/celebnetworth...net-worth/

Can't be right surely? So his son would be considerably less wealthy...

I know you're desparate to piss on this but... like most of these articles... do you think they actually know anything?

If you were worth $250m would you donate $200m to charity?  https://www.bbc.co.uk/news/world-us-canada-41587429

Not desperate to piss on it, I hope they prove me completely wrong, it all just seems very Lai like. And that has me concerned. I saw the $200m donation, but that won't really be from his own wealth. Even in Borin's copy n paste above it quotes$400m, again that's the dad.

So the dad's worth is around $325m... that's the dad. the son has control over a business that has about $2bn investments.

these aren't the massively wealthy owners we were promised by some ITKers, it hasn't happened when was said by some ITKers, in short, i'm concerned that if it is these then we might only be better off in that we won't need a fire sale, hopefully I'm wrong.

Oh and for full measure the dad's company was involved (with the dad being named in the suit) in a case when some whistle blower showed their business was doing dodgy stuff, that cost them £31m so they're no against bending rules too, which could impact the fit people's test? (or could be why it's the son doing this and not the dad directly?0

These are more a meh than a wow, to me.

But he does have an Annual Pass to Busch Gardens