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The Money Desk · Blog
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The Money Behind West Brom: What the Club’s Ownership and Accounts Reveal

Bilkul Football WBA, LLC is West Brom’s majority shareholder. The club’s ownership disclosures and accounts show who controls the club and how it has been funded—but not the owners’ personal fortunes.
From TheFinanceBase Team3 min to read
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West Bromwich Albion’s majority owner is Bilkul Football WBA, LLC, whose disclosed indirect significant-interest holders are Shilen Patel and Dr Kiran C. Patel. The club’s records document Bilkul’s ownership and funding of West Brom; they do not establish either Patel’s personal net worth or a fully sourced account of how former owner Guochuan Lai made his fortune. Club investment, company accounts and an individual’s wealth are different measures.

Who owns West Bromwich Albion?

West Bromwich Albion Football Club Limited is wholly owned by West Bromwich Albion Group Limited. The club’s ownership disclosure names Bilkul Football WBA, LLC as the group’s majority shareholder and identifies Shilen Patel and Dr Kiran C. Patel as indirect holders of significant interests in Bilkul. West Brom’s ownership disclosure gives Bilkul’s shareholding as 93.9%.

The percentages reflect different points in time, not necessarily a contradiction. Bilkul acquired an 87.8% shareholding in West Bromwich Albion Group Limited on 28 February 2024; the club’s later ownership disclosure reports 93.9%. The first is the takeover-era figure, while the second is the later figure published by the club. The club’s acquisition announcement confirms the acquisition date and initial shareholding.

Measure What it says Context
87.8% Bilkul’s acquired shareholding in West Bromwich Albion Group Limited At the acquisition completed on 28 February 2024, per the club’s announcement
93.9% Bilkul’s shareholding in the group Later percentage stated on the club’s ownership disclosure

Companies House lists West Bromwich Albion Group Limited as the active person with significant control of the football club company, with 75% or more of shares and voting rights and the right to appoint or remove directors. Guochuan Lai is listed as a ceased person with significant control, with cessation dated 28 February 2024. Companies House cautions that it does not check the accuracy of information filed with it. The club company’s Companies House control page is the underlying record.

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What the club’s accounts say about owner funding

West Brom’s announcement of its accounts for the financial year ended 30 June 2025 reported a £17 million loss, compared with a £31.3 million loss for the preceding year in that announcement. It also reported £17.6 million in additional capital injections from Bilkul during 2024/25. These are figures about the club and its funding, not measures of the owners’ personal fortunes. The club’s 2024/25 accounts announcement ties the figures to the period.

In its announcement of the 2023/24 accounts, West Brom said it had received £25.3 million in capital injections to date. That is a cumulative figure reported in 2025 for club funding; it should not be added to the £17.6 million for 2024/25 without establishing whether the periods and reporting bases overlap. The 2023/24 accounts announcement provides the earlier context.

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The 2024/25 accounts report a £25.718 million carrying amount for the MSD loan at 30 June 2025. The club said Bilkul had taken on the obligation to pay interest on the loan from the February 2024 takeover, and that the outstanding balance would be repaid by December 2026. That is a repayment date stated in the accounts announcement; it does not establish whether repayment has since occurred.

The same announcement reports £2.6 million in merchandising revenue for the year ended 30 June 2025. That figure describes one part of the club’s commercial activity; it does not indicate the owners’ personal income or wealth.

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Why these figures do not reveal the owners’ fortunes

A shareholding percentage describes ownership of a company. A capital injection describes funding provided to the club. A loss describes the club’s financial result for a defined period, and a loan balance describes an obligation on the company’s accounts. None, on its own, states an individual’s net worth.

The official ownership and financial records establish the current disclosed structure, Lai’s departure date and activity in the club’s accounts. They do not verify a personal net-worth figure for Shilen Patel, Dr Kiran C. Patel or Guochuan Lai, nor do they provide a sufficiently sourced, detailed history of how Lai built his fortune. A club valuation, funding figure or unsourced media estimate should not be presented as a verified personal fortune.

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What to check as ownership and debt records change

Ownership percentages and debt status can change after an announcement or accounts period. Companies House filing history shows West Bromwich Albion Group Limited’s accounts for the year ended 30 June 2025 were filed on 29 March 2026. It also records a statement of capital filed in January 2026 following an allotment on 18 December 2025. The records cited here do not establish that the allotment changed the club’s stated 93.9% ownership figure. The group’s Companies House filing history provides the dated filing record.

For a current picture, distinguish the club’s latest ownership disclosure from takeover-era figures, and distinguish the latest reported accounts from any later repayment update. The accounts discussed here cover the year ended 30 June 2025 and were published in 2026; they should not be read as a real-time statement of the club’s finances.

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