Ellis confirms takeover approach for Villa

Ellis confirms takeover approach for Villa

	Published : Wed, 21 Sep 2005 06:05 By : David Simms Print this Story

London: Villa share prices rocketed 25 percent yesterday following reports that the English premium league club had received a £60 million takeover offer from a Russian consortium. Majority shareholder and chairman Doug Ellis, released a statement to the stock exchange clarifying that the press reports were “inaccurate and unfounded”.

The statement however confirmed that Villa had in fact received a “preliminary approach which could lead to an offer”.

The reports had also said that Villa manager David O’Leary would have generous funds to spend on players if the offer from the Russian group was accepted.

Meanwhile, Villa Fans Club members are once again pressing for the exit of 81-year-old Ellis, saying he should sell the club and retire gracefully.

Former Manchester player and insurance businessman Ray Ranson had already made two attempts to gain control of the club but Ellis rejected the offers saying they were lower than expected.

A spokesperson for VFC said Villa should be under new leadership with a proper business plan. To football fans it is clear what the VFC is driving at. Aston Villa has seen glory – winning the Championship and the European Club; but that was only during Ellis’s absence – the period between his two terms. Most football fans resent that and blame Ellis for Villa’s slow descent into obscurity.

The current offer is believed to be made by Russian oil tycoon Roman Abramovich who is credited with turning around the fortunes of his west London club. Abramovich had injected around £300 million to revitalise the club which helped it to win the Premier League last season, for the first time in half a century. He has also acquired soccer club Chelsea last year which has given rise to speculation that more such takeovers by businessmen are likely.

The world’s richest club Manchester United was recently ‘acquired’ for £800 million by American billionaire Malcolm Glazer.