Woody
Admin
Joined: 14 Jun 2006
Posts: 20349
Offline
Location: Padded cell
Add Karma
Warnings: =
|
 Posted: Mon Aug 14, 2006 9:12 pm Post subject: Another one bites the dust |
 |
|
Randy Lerner's bid to take over Aston Villa has been accepted by the club, allowing new manager Martin O'Neill to restructure his squad while marking an end to Doug Ellis' era as chairman.
Villa made a statement to the Stock Exchange recommending that shareholders accept the bid from Cleveland Browns owner Lerner, which values the club at £62.6million.
When the takeover is completed by the American billionaire, O'Neill is predicted to have money to spend on players to bolster the threadbare squad inherited from former boss David O'Leary.
Henk Potts of Barclays Stockbrokers told said: "It's inevitable they will have to go out and spend, given that they haven't won the league in more than 20 years and finished close to the relegation zone last season.
"They now have the emphasis and the ability in the transfer market, which was in decline but foreign investors such as Roman Abramovich and Malcolm Glazer and now Randy Lerner have changed that.
"They will have the firepower to liven up the transfer market significantly. Foreign investors have to promote the Premiership and that involves investing so the team are successful."
Lerner's takeover will end the long reign of 82-year-old chairman Ellis, who has run the club since 1982 and also had an earlier spell at the helm, with Villa ironically winning the domestic league and European Cup without 'Deadly Doug'.
The departure of Ellis has inevitably been welcomed by supporters, with chairman of Aston Villa Shareholders Association Jonathan Fear telling Sky Sports News: "I can see nothing but positives from it. They're going to build the club and restore it to what it was."
Despite his often tense relationship with fans, Ellis revealed his "sincere pleasure" since taking over at Villa Park for the first time nearly 38 years ago.
He said: "It has been my sincere pleasure to have been involved with Aston Villa these many years, both as chairman and as a substantial shareholder.
"The club have been an enormous and immensely enjoyable part of my life.
"I wish to thank the many staff at Aston Villa over the years for making the club what it has been and what it is.
"I am sure this transaction will be the beginning of a new chapter in Aston Villa's proud history."
Among the first managers Ellis sacked - the number of managers at Villa led to his nickname 'Deadly' - was Tommy Docherty, who believes the takeover announcement marks the end of an era at the club.
"He might not have spent a lot of money on players but he has never got the club into any debt," Docherty said.
"Fans can scream and shout for his head but if it was their money they would not throw it about either.
"It's the end of an era but the beginning of a new one as Martin O'Neill is an outstanding manager."
Lerner, 44, inherited most of his fortune from his father Al, the founder of the MBNA credit card company.
Lerner said: "It is my belief and the basis for my bid to acquire Aston Villa Football club that it can compete at the highest level within the Premiership and in Europe.
"The club has a rich history and a long tradition of passionate fan support."
Lerner, who conducted the offer through his company Reform Acquisitions Ltd, had headed one of a number of consortia hoping to buy out Ellis.
Local businessman and fan Michael Neville led one group while another was put together by Nicholas Padfield QC.
Athole Still, the agent of former England manager Sven-Goran Eriksson, was also believed to be interested in taking over.
Click here to send us your sporting feedback
with so many of our top clubs now being owned by foreign companies are individuals it got me thinking , is this a good or bad thing for our national game???
One day soon all of the EPL could be owned by foreign companies , could the have a negative affect on our game as a whole???
Or is this all for the good of our game???
|
|
