Lerner invests nearly £140m in Aston Villa
Mon 1st Feb 2010 | Clubs Ownership
It has been revealed that Aston Villa Football Club owner Randy Lerner has invested nearly £140 million in the club since taking over in 2006. Lerner bought the Premier League club for £62.6 million. He acquired the club soon after it barely avoided relegation and has been at the helm through its subsequent top six finishes. Aston Villa under manager Martin O'Neill, is now set to compete in the League cup final at Wembley in February.
'The club has filed a statement at Companies House indicating that £138.6 million of the investment has been from Reform Acquisitions, Lerner's UK holding company. It’s reported by SportsProMedia that the accounts for financial year ending May 31st 2009 are due by end of February 2010 and those will give a clearer picture of how the money was paid. Documents pertaining to the year ending May 31st 2008 indicate that £49.5 million was invested in the form of loan notes from a]Lerner's US holding company.
Lerner's cash investments have been made in nine installments and have been primarily for transfers and wages. Lerner's soft loan conditions is a striking contrast to the situation between Manchester United and the Glazer family and the Guardian says, "There the Glazer family loaded their own borrowings to take the club over on to United itself, and the club were recently revealed to have debts of £716 million, not one penny of it paid in as investment for the club." Lerner has refurbished the Holte Pub near the club and in the last two seasons he has donated the club's shirt sponsorship to local children's hospice Acorns and these acts of generosity have drawn media headlines.
Thu 23rd Mar 2017 | Clubs Ownership
Portsmouth Football Club has confirmed it’s in talks regarding a potential takeover. In a statement released by the club, they said: “Portsmouth Community Football Club would like to...
Thu 5th Jan 2017 | Clubs Ownership
Specialist Sports Law Team at Walker Morris reinforces its national reputation for football club acquisitions/sales with the latest sale of Leeds United FC. Specialist sports lawyers at Walker Morris...
Wed 4th Jan 2017 | Clubs Ownership
Aser Group Holding has completed its investment in Leeds United Football Club today. Leeds United Football Club has confirmed Aser Group Holding, through its acquisition vehicle Greenfield Investment...