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.
Google
Yahoo
Live
del.icio
DiggRelated Articles
Ebbsfleet United Appoint New Chairman
Wed 23rd May 2012 | Clubs Ownership
MyFootballclub have announced today that Jessica McQueen has been appointed as Chairman of Ebbsfleet United Football Club for the coming year following a member vote. Jessica, a member of...
Liverpool fans call for end to 'chaos'
Tue 22nd May 2012 | Clubs Ownership
Liverpool owners have been challenged to publicly explain their strategy for the club by a leading fans group. Spirit of Shankly, who led the protests against the despised former regime of Tom Hicks...
Premier League rule out Rovers investigation
Thu 10th May 2012 | Clubs Ownership
The Premier League have dismissed an MP's calls for an investigation into Venky's takeover of relegated Blackburn Rovers. And the Premier League say they are confident the club will remain financially...
Rangers Administrators Announce Preferred Bidder
Thu 3rd May 2012 | Clubs Ownership
Rangers Administrators Duff & Phelps have announced Bill Miller as the preferred bidder for the Scottish Premier League side. Paul Clark, joint administrator announced the American...
