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Lai loses out

Last Thursday, West Bromwich Albion announced that Florida-based businessman Shilen Patel has agreed to buy them from current owner Guochuan Lai.

This news was joyfully greeted by the Championship club’s fans as Lai’s clueless spell in charge has seen two relegations, albeit with one promotion in between, and a massive deterioration in the club’s finances. So much so that a once well-run club was heading towards bankruptcy.

Perhaps the best evidence of this narrowly avoided crash can be seen in the return on investment Lai is getting. The Chinese businessman paid about £200million for what was a Premier League club in 2016.

Patel is paying him only £10m guaranteed – £2.5m on completion, £2.5m in August and £5.5m in August 2025.

There is the possibility of bonus payments if West Brom are promoted. Go up this season, and they are currently fifth, and Patel will pay Lai an extra £18m. Promotion next season would trigger a £10m payment, £5m the following season and £2m if West Brom have to wait until the 2026-27 season.

The real benefit to Lai is that funding West Brom’s annual losses and repaying their debts are now somebody else’s problems.


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