Lerner to take control of Villa
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American billionaire Randy Lerner is set to take control of Aston Villa, after winning the battle to buy the Midlands club.
The Premiership outfit have announced to the Stock Exchange that Lerner will take over the running of the club from current chairman Doug Ellis.
Lerner had been part of a four-horse race to buy out Ellis' stake, with the outgoing chairman having held talks with the interested parties in recent weeks.
It appeared Lerner had cooled his interest in taking over at Villa Park after announcing he had withdrawn from discussions at the end of last month.
But the owner of NFL team Cleveland Browns revived his bid and has now struck a deal with Ellis, which values the club at £62.6 million.
Ellis had been prepared to sell his stake in Villa since last October after spending almost 40 years - in two spells - involved in the running of the club.
He is now close to ending his reign after the announcement that an agreement had been reached with Lerner.
The other consortia keen on buying the club included a group headed by long-time Villa supporter Michael Neville.
Sven Goran Eriksson's agent Athole Still was also fronting a bid, while AV06 were the fourth consortium bidding to buy Ellis' share.
The Villa board have unanimously recommended that shareholders accept the offer, with Ellis hopeful for the future of the club.
"It has been my sincere pleasure to have been involved with Aston Villa these many years, both as chairman and as a substantial shareholder," said Ellis in a statement.
"The club has 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 that this transaction will be the beginning of a new chapter in Aston Villa's proud history."
Lerner, meanwhile, affirmed his intention to bring the glory days back to Aston Villa, who won the European Cup in 1982.
"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," said Lerner.
"The club has a rich history and a long tradition of passionate fan support."
The Premiership outfit have announced to the Stock Exchange that Lerner will take over the running of the club from current chairman Doug Ellis.
Lerner had been part of a four-horse race to buy out Ellis' stake, with the outgoing chairman having held talks with the interested parties in recent weeks.
It appeared Lerner had cooled his interest in taking over at Villa Park after announcing he had withdrawn from discussions at the end of last month.
But the owner of NFL team Cleveland Browns revived his bid and has now struck a deal with Ellis, which values the club at £62.6 million.
Ellis had been prepared to sell his stake in Villa since last October after spending almost 40 years - in two spells - involved in the running of the club.
He is now close to ending his reign after the announcement that an agreement had been reached with Lerner.
The other consortia keen on buying the club included a group headed by long-time Villa supporter Michael Neville.
Sven Goran Eriksson's agent Athole Still was also fronting a bid, while AV06 were the fourth consortium bidding to buy Ellis' share.
The Villa board have unanimously recommended that shareholders accept the offer, with Ellis hopeful for the future of the club.
"It has been my sincere pleasure to have been involved with Aston Villa these many years, both as chairman and as a substantial shareholder," said Ellis in a statement.
"The club has 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 that this transaction will be the beginning of a new chapter in Aston Villa's proud history."
Lerner, meanwhile, affirmed his intention to bring the glory days back to Aston Villa, who won the European Cup in 1982.
"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," said Lerner.
"The club has a rich history and a long tradition of passionate fan support."
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