How West Brom’s owner Shilen Patel created a net worth of $100 million

West Bromwich Albion fans’ prayers were answered in February, as Shilen Patel completed a takeover of the club from the unpopular Guochan Lai.

The former owner’s stint with the Baggies was one to forget. Despite so much promise, the club’s progress stalled. They went from an established Premier League side to a promotion contending Championship side under the stewardship of Lai.

However, Patel’s future with the club looks to be a breath of fresh air, as West Brom work towards becoming a firm fixture in the top flight once again. But, where did the new Albion owner acquire his fortune that allowed him to take over from Lai?

Patel’s father built his dream in Florida

The American is reportedly worth $100 million, but that isn’t where his wealth ends, according to Birmingham Live.

The millionaire’s father, Kiran, is estimated to be worth four times the amount of his son, with a reported $400 million behind him.

The company which purchased West Brom back in February, Bilkul Football WBA, LLC, was owned by both Shilen and Kiran Patel. They acquired an 87.7% stake in the football club, taking over what was previously owned by Guochan Lai.

The Florida businessman’s father planted the seeds for success many years ago. The doctor turned entrepreneur who originally hailed from Zambia would make his living in the United States, along with the support of his wife, Pallavi, who was also a doctor.

Now 75 years old, Kiran has handed the reins of the family business over to his son, which has brought plenty of wealth for the Baggies owner. The Patel family have lived the American dream, as they have made hundreds of millions of dollars buying and selling healthcare companies.

Together with his wife, Pallavi, the couple have reportedly given over $240 million over the years to support the arts, education and healthcare in Florida. WIth a notorious history of being a giving man, Kiran was named Floridan of the year in 2017, as recognition for his incredible work for his local community.

How Shilen Patel made his fortune

Despite the success of his father, any notion that Shilen was simply handed his fortune is simply incorrect. His father always made sure to keep his son’s feet firmly on the ground. Kiran recalled in an interview that his children were responsible for their own futures. When Shilen was eight years old, he asked his father if the family was rich. Kiran smartly replied “I may be rich, but you are not.”

Despite this, Kiran has quite clearly seen that his son has what it takes to continue his family’s legacy, handing over the reins to the family business, which would also come with some added wealth. But, before this, Patel had to build his own career, as the comments from his dad showed.

Following in his father’s footsteps, Shllen is a businessman based out of Florida. The Tampa-born man received a Bachelor’s degree in Business Administration from Babson College in 2002, followed by an MBA from both Columbia University and London Business School. This successful education set Patel up to become a successful businessman, which he would certainly achieve.

Shilen would sell his first company, Visionary HealthWare, in 2011, which was even before he received his MBA in 2013. He continued in the family tradition, becoming founder and CEO of HealthAxis, which is a health insurance-focused software company in his hometown of Tampa. The company has been a huge success, netting $45 million in revenue in 2021, with Patel remaining in post to this day.

Despite having been around wealth from a young age, Shilen has successfully built his own career, continuing his father’s legacy in the healthcare market.

West Brom is Patel’s first sports team ownership gig

*Correct as of 22nd October 2024

Plenty of football club owners have had experience in the field before. However, the new gig at the Hawthorns is Patel’s first rodeo when it comes to owning a sports team. Despite having a minority interest in Italian Serie A side Bologna, the 43-year-old was yet to experience being a football Chairman when he took the reins at the Albion.

Regardless of this, Patel’s experience in senior positions within his businesses makes him a great asset to the club. He knows first-hand the pressure of managing a business with high expectations, so a transition into football should be seamless for the millionaire.

There were reports that the Tampa-born man was connected to MSD Holdings, which loaned the Midlands club around £27 million. However, thanks to his calm approach to ownership, Patel quickly settled an outstanding loan from the previous ownership. With things in the background settled, this allowed Baggies boss Carlos Corberan to focus on building a team that could return West Brom to the top flight.

Whilst Lai’s time at the Hawthorns was ultimately disappointing, there is a real buzz around the Hawthorns at the moment. After settling the debts overhanging the club, it truly feels like a new dawn for the Premier League side. Corberan is a highly-rated manager, but has lacked the backing over the past two seasons to gear up for an attack on the promotion places.

Thanks to a great start to the season, which has been spearheaded by the electric form of striker, Josh Maja, Ablion could be in for an excellent first season under Patel.

 

 

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