West Brom owner forced to invest seven-figure sum months after £60m purchase
West Brom’s new owner Shilen Patel has invested a further £5m in the club this summer – less than six months after his £60m purchase.
The American businessman has agreed to pay off an outstanding £3.7m loan from to former chairman Jeremy Peace, which was the subject of an English Football League investigation within the next 12 months.
He has also spent more than £1m on improving facilities and laying a new pitch at the club’s training ground.
Patel has been frustrated at being unable to invest in Carlos Corberan’s playing squad, as West Brom are subject to an EFL-controlled business plan due to overspending by previous owner Guochuan Lai.
West Brom have been active in the transfer market, signing nine players and offloading 16 more.
But they have had severely restricted transfer funds, with Corberan forced to sell first-team players such as striker Brandon Thomas-Asante and midfielder Okay Yokuslu before he can buy.
Despite that, the Baggies currently sit fourth in the Championship with seven points from their first three games of the season.
Patel, who is based in Florida, completed his majority purchase of West Brom in February after being granted EFL approval.
