Cleveland Browns owner set to take over English Premiership side Aston Villa
American tycoons are now set to take over the English Premier League. Cleveland Browns owner Randy Lerner put in a $118.8 million bid to buy Aston Villa, one of the oldest clubs in English football.
Last year, Tampa Bay Buccaneers owner Malcolm Glazer took over Manchester United, one of the world’s most popular soccer teams. The Aston Villa board recommended the transaction to shareholders and said owners of 56.85 percent of the shares were committed to the deal. Lerner is expected to take over within months.
Villa chairman Doug Ellis, who has run the Birmingham-based club for more than 30 years and owns 39 percent of the stock, put the team up for sale last year. Lerner’s takeover vehicle, Reform Acquisitions Ltd., offered $10.37 per share, the principals announced to the London Stock Exchange on Monday. That represents a premium of about 47 percent more than the closing price on Sept. 16, 2005, the last day before the offer period. Many English soccer teams are listed on the stock market to raise money from investors.
Lerner would be the fourth foreign owner of a Premier League club. Chelsea has been revolutionized since Russian billionaire Roman Abramovich took over the club two years ago and invested part of his fortune to buy a team of superstars. The Blues have won the last two league titles.
Last month, another Russian, Alexandre Gaydamak, took over at Portsmouth. Villa, which opens the 2006-07 season at Arsenal on Saturday, posted a loss of $16.8 million in the last full financial year, and lost $2.2 million the year before.
Villa, established in 1874, is one of only four English teams to win the European Cup - Europe’s top club competition. The team has struggled recently and hasn’t won the English Premier League title since 1981.
All Horse Racing offers odds on every major sporting event in the world including the English Premier League, Super Bowl, World Cup, Baseball World Series, Stanley Cup, Basketball, Golf– you name it– we got it!
5% Redeposit bonus ever Thursday!
Premier League Prediction: With stars such as Shevchenko, Ballack, Drogba, Lampard, Cole and Terry, Chelsea will be hard-pressed to be beaten again. Chelsea to win and Manchester United to finish runnerup.
