It was only a year on from his 2016 takeover Guochuan Lai was first offered a route out of Albion.
A US investor who was willing to pay £200 million, which is approximately the same as what the Chinese billionaire had paid Jeremy Peace a year earlier, for his 88% ownership in the club approached the club’s controlling shareholder.
Lai vehemently declined the offer.
When word of the bid spread, Baggies chairman John Williams stated, “My information is there was an enquiry.” “The majority shareholder expressed his desire to maintain ownership of the club and carry out his long-term development plans for it.”
As he now finally prepares to depart The Hawthorns some six-and-a-half years later, it is difficult to believe Lai does not reflect on that moment and wince.
According to reports, the Chinese investor who initially paid £200 million for the club would lose a significant amount of that money.
The official approval of the takeover is scheduled for next week, and the future chairman of West Brom will be present for tonight’s Championship match against Southampton.
West Brom finished last in the Premier League in 2020–2021, and in the last two Championship seasons, they haven’t placed in the top eight.
The 43-year-old Mr. Patel inherited his father’s fortune, which is estimated to be worth $400 million (£ 317.9 million).
The entrepreneur recently assumed control of the family business, HealthAxis Group, a Tampa-based software company with $2 billion (£1.58 billion) in assets.
After emerging as the front-runner to acquire the team, Mr. Patel’s business is reportedly taking on debt of over £40 million.
