Villa receive takeover approach

[Rob W 0]

Villa receive takeover approach

 

Aston Villa have confirmed there has been a "preliminary approach" regarding a takeover of the club.

 

The Premiership club are treating the proposal as "speculative" because they say the consortium involved has yet to confirm how much finance it has. Villa confirmed the bid was from Michael Neville, a lifelong Villa fan. Weekend reports suggested Neville was heading the approach on behalf of Irish brothers Luke and Brian Comer, who own the Comer Homes Group.

 

A statement to the Stock Exchange on Monday from Aston Villa plc's board said: "The directors of Aston Villa plc have noted the weekend press comment and confirm that they have received a preliminary approach from Mr Michael Neville on behalf of a consortium group, which could lead to an offer for the company.

 

"However, the board have not met with any other members of the consortium group nor received any confirmation of the availability of sufficient funding to support any potential offer and so they can only treat the approach as speculative at this stage."

 

According to reports, the Comer brothers will spend £64.5m buying out the 58% of the club owned by 81-year-old chairman Doug Ellis and the former Watford chairman Jack Petchy. Ellis owns 39%, with access to another 12%, while Petchy is the other major shareholder at Villa Park. It is claimed that Ellis, whose sale price for the club was £64m, will earn £20m from the sale.

 

If reports are correct, the Comer brothers plan to install Neville as executive chairman, while retaining Ellis as a non-executive chairman, with a place on the board. In October, Ellis revealed: "We have had an approach and it is interesting, there is no doubt about that, but it isn't finalised. We are still working on it. I hope to be able to let people know more within the next month."

 

Ellis, who has been chairman at Villa since 1982, rejected a £47m bid from a consortium that included former Manchester City player Ray Ranson in July. He has claimed money is not the biggest factor in his willingness to sell - with the long-term well-being of the club his concern.

[Shearergol 0]

Surely it's time for him to take the money and run?

[Rob W 0]

According to the Villan in the office it depends if his son wants it or not

 

I'd guess he'll go

 

But they will have to offfer ALL the shareholders the price they're offering Doug I think - could make it expensive