West Bromwich Albion: Patel agrees to pay off another old loan

Albion said, in a club statement: “Following consultation with Shareholders for Albion (S4A) – an organisation representing the vast majority of the 430 minority shareholders of West Bromwich Albion Group Limited – it commissioned an independent investigation by a leading King’s Counsel, Sebastian Isaac KC, into the 2014 loan by the Club to West Bromwich Albion Holdings Limited.

“The club would like to thank Mr Isaac for his thorough investigation and the detailed analysis in his report. The club would also like to thank those who participated in the investigation voluntarily. It has taken 18 months to complete as there were many complex issues to consider.

“The report has been reviewed carefully by both the Club and the representative of S4A, with their respective solicitors. No further action will be taken and, so far as both the club and S4A are concerned, the matter is closed.

“The club’s current directors remain under an obligation in relation to repayment of the loan.

“On 28 February 2024 Bilkul – a company ultimately owned by Shilen Patel and Dr Kiran C Patel – acquired an 87.8% shareholding. As part of that acquisition, a funding agreement has been agreed with the club and English Football League to 30 June 2025 and liability for the loan transferred to Bilkul. As a consequence, the club will not sustain any loss in respect of the loan.”