Post by Liam O'Reilly on Aug 25, 2006 11:46:44 GMT
American billionaire Randy Lerner has gained a majority shareholding in Aston Villa.
The London Stock Exchange announced on Friday that Lerner has secured 59.69% of Villa shares.
Lerner saw his £62.6m takeover bid accepted by the Villa board earlier this month and he has now moved a step closer to gaining full control of the club.
The Cleveland Browns owner has bought the shares of chairman Doug Ellis and fellow shareholder Jack Petchey to secure the majority holding of the club.
Lerner is now expected to replace Ellis at the helm at Villa Park with a new chief executive also set to be appointed.
The path was cleared for Lerner to finalise his takeover when the consortiums lead by Michael Neville and Nicolas Padfield dropped their interest in the club.
The news will come as a boost to Martin O'Neill who will now hopes funds will be made available to him to strengthen the squad before the close of the transfer window next week.
The London Stock Exchange announced on Friday that Lerner has secured 59.69% of Villa shares.
Lerner saw his £62.6m takeover bid accepted by the Villa board earlier this month and he has now moved a step closer to gaining full control of the club.
The Cleveland Browns owner has bought the shares of chairman Doug Ellis and fellow shareholder Jack Petchey to secure the majority holding of the club.
Lerner is now expected to replace Ellis at the helm at Villa Park with a new chief executive also set to be appointed.
The path was cleared for Lerner to finalise his takeover when the consortiums lead by Michael Neville and Nicolas Padfield dropped their interest in the club.
The news will come as a boost to Martin O'Neill who will now hopes funds will be made available to him to strengthen the squad before the close of the transfer window next week.