Florida-based entrepreneur Shilen Patel and his father have completed a deal to take control of West Brom.
The takeover of the Championship club, worth a reported £60m, to acquire Guochuan Lai's 87.8 per cent majority shareholding was approved by the EFL earlier in February.
A statement from West Brom read: "Bilkul Football WBA, LLC - a company ultimately owned by Florida-based entrepreneur Shilen Patel and his father Dr Kiran C. Patel - has acquired an 87.8 per cent shareholding in West Bromwich Albion Group Limited, the parent company of West Bromwich Albion Football Club.
"The takeover, which received EFL approval earlier this month, completed on Wednesday afternoon."
Shilen Patel, who has owned a minority shareholding in Serie A club Bologna since 2014, has been named as the new Baggies chairman.
He said: "I am delighted and humbled to become the new custodian of West Bromwich Albion Football Club.
"Today marks the beginning of an exciting project for the club to regain its standing as a consistent Premier League presence.
"Success does not occur overnight, but it is my ambition to build on the club's current and historical strengths and surround West Bromwich Albion with high quality stakeholders at home and globally.
"I am also fortunate to be inheriting and continuing the great work of The Albion Foundation at home and abroad.
"I am in awe of the opportunity to help write the next chapter in Baggies history and am committed to being a responsible, respectful, and effective steward of the club."
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