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Villa Takeover; At Last!
Topic Started: Oct 30 2005, 12:02 PM (610 Views)
jester_villa
Member Avatar
Steve Claridge
[ *  *  * ]
Quote:
 
Villa set to agree £64 takeover

By David Harrison

ASTON VILLA will this week join the ranks of the Premiership's mega-rich.

The under-achieving Midlands club is about to move into a new era when the formalities of a takeover are concluded at a meeting in Birmingham on Wednesday.

Villa will come under the control of an Irish-owned property company, the Comer Homes Group, which has assets of £1billion.

Octogenarian Villa chairman Doug Ellis and major shareholder Jack Petchey have agreed to sell their combined stake of 58 per cent.

The bid of £5.60 a share will be put to the other shareholders over the next few weeks.

The package values Villa at £64 and they will become part of a giant conglomerate under the umbrella of Comer Homes.

It will be brought about by what is known in the City as a ‘reverse takeover' — Comer will effectively become Villa's parent company.

And it promises to lift Villa up among the Premiership's big spenders with an annual guarantee of 20 per cent of the Comer Group profits. That should give Villa a minimum of £20 per season to invest in the team and stadium facilities.

Although the takeover is being mainly financed by brothers Brian and Luke Comer, the frontman for the consortium is Solihull-based businessman and lifelong Villa fan Michael Neville.

He will be responsible for the daily running of Villa as executive chairman with Ellis remaining on board in a non-executive capacity.


Negotiations

Neville is involved in several companies, including the Ireland-based Minmet plc, which has interests in mining for gold, oil and gas. Two secretive offshore businessmen — one a South African — are also part of the consortium.

A source close to the negotiations confirmed: "When the deal is complete, it will take Villa into a new era.

"The fans can look forward to a big investment in players and facilities. The consortium recognise Villa have massively under-achieved and though the club has a sound financial base, the lack of playing success has been a big disappointment.

"They are determined to bring back the glory days of Europe and make the club one of the country's true giants once again."

Aston Villa won the European Cup in 1981, beating Bayern Munich 1-0 in the final.

But since then they have been starved of success, apart from League Cup wins in 1994 and 1996.

There has also been a widespread belief among the fans that the lack of progress has been due to Ellis's tight control of the budget.

The veteran chairman underwent a triple by-pass operation during the summer and was advised to cut back on his football activities.

He has always insisted he would never sell control of the club and claimed: "They will have to carry me out of here in a box."

But he has found an ideal compromise in that he can keep his perks and privileges as non-executive chairman while still handing over power.

The Comer Group's successful bid has seen off interest from a group of Russian investors, who were unable to satisfy Ellis's demands.

David O'Leary became manager 18 months ago.

Despite signing players like Kevin Phillips, Milan Baros and Thomas Sorensen, O'Leary has complained about the lack of resources.

The new consortium is likely to give O'Leary both time and money to prove himself — although they will make their ambitions utterly clear.

The deal has been brokered by Paul Garland, who was involved in the failed takeover bid by former Manchester City defender Ray Ranson. Garland is not expected to play any part in future administration.


Detail

Negotiations have been going on for several months through solicitors and the takeover is currently going through ‘due diligence,' with every detail of the club's financial standing being pored over.

Once the consortium is fully satisfied, a formal offer will be will be made to all Villa's shareholders.

That could take several months but will open the way for Villa to operate at the top end of the football market.

As well as being granted a 20 per cent share of the Comer Group profit each year, they have guaranteed that Villa will stay debt-free. The Comer brothers will become active supporters of the club as well as providing the bulk of the money.

They have built up their company from nothing and now own major property developments across London as well as a horse-racing stud in their native Ireland.



**thumbup **thumbup **thumbup **thumbup **thumbup **thumbup

thats all i have to say about this at the moment
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Lucky
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Bob Latchford
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jester the only thing i can say about this is ,the people involved have some serious wonga ,about on par with our board i would say .
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DANY
Geoff Horsfield
[ *  *  *  *  * ]
Are you not slightly concerned though as to this company's motives??

Companies have been after vile because of the land they own, the fact this company is a building company sudjests they may have alterior motives.
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Blooboy
Unregistered

jester_villa
Oct 30 2005, 12:02 PM
Quote:
 
Villa set to agree £64m takeover

By David Harrison

ASTON VILLA will this week join the ranks of the Premiership's mega-rich.

The under-achieving Midlands club is about to move into a new era when the formalities of a takeover are concluded at a meeting in Birmingham on Wednesday.

Villa will come under the control of an Irish-owned property company, the Comer Homes Group, which has assets of £1billion.

Octogenarian Villa chairman Doug Ellis and major shareholder Jack Petchey have agreed to sell their combined stake of 58 per cent.

The bid of £5.60 a share will be put to the other shareholders over the next few weeks.

The package values Villa at £64.4million and they will become part of a giant conglomerate under the umbrella of Comer Homes.

It will be brought about by what is known in the City as a ‘reverse takeover' — Comer will effectively become Villa's parent company.

And it promises to lift Villa up among the Premiership's big spenders with an annual guarantee of 20 per cent of the Comer Group profits. That should give Villa a minimum of £20m per season to invest in the team and stadium facilities.

Although the takeover is being mainly financed by brothers Brian and Luke Comer, the frontman for the consortium is Solihull-based businessman and lifelong Villa fan Michael Neville.

He will be responsible for the daily running of Villa as executive chairman with Ellis remaining on board in a non-executive capacity.


Negotiations

Neville is involved in several companies, including the Ireland-based Minmet plc, which has interests in mining for gold, oil and gas. Two secretive offshore businessmen — one a South African — are also part of the consortium.

A source close to the negotiations confirmed: "When the deal is complete, it will take Villa into a new era.

"The fans can look forward to a big investment in players and facilities. The consortium recognise Villa have massively under-achieved and though the club has a sound financial base, the lack of playing success has been a big disappointment.

"They are determined to bring back the glory days of Europe and make the club one of the country's true giants once again."

Aston Villa won the European Cup in 1981, beating Bayern Munich 1-0 in the final.

But since then they have been starved of success, apart from League Cup wins in 1994 and 1996.

There has also been a widespread belief among the fans that the lack of progress has been due to Ellis's tight control of the budget.

The veteran chairman underwent a triple by-pass operation during the summer and was advised to cut back on his football activities.

He has always insisted he would never sell control of the club and claimed: "They will have to carry me out of here in a box."

But he has found an ideal compromise in that he can keep his perks and privileges as non-executive chairman while still handing over power.

The Comer Group's successful bid has seen off interest from a group of Russian investors, who were unable to satisfy Ellis's demands.

David O'Leary became manager 18 months ago.

Despite signing players like Kevin Phillips, Milan Baros and Thomas Sorensen, O'Leary has complained about the lack of resources.

The new consortium is likely to give O'Leary both time and money to prove himself — although they will make their ambitions utterly clear.

The deal has been brokered by Paul Garland, who was involved in the failed takeover bid by former Manchester City defender Ray Ranson. Garland is not expected to play any part in future administration.


Detail

Negotiations have been going on for several months through solicitors and the takeover is currently going through ‘due diligence,' with every detail of the club's financial standing being pored over.

Once the consortium is fully satisfied, a formal offer will be will be made to all Villa's shareholders.

That could take several months but will open the way for Villa to operate at the top end of the football market.

As well as being granted a 20 per cent share of the Comer Group profit each year, they have guaranteed that Villa will stay debt-free. The Comer brothers will become active supporters of the club as well as providing the bulk of the money.

They have built up their company from nothing and now own major property developments across London as well as a horse-racing stud in their native Ireland.



**thumbup **thumbup **thumbup **thumbup **thumbup **thumbup

thats all i have to say about this at the moment

i have something to say about it..ferck off, who cares i don't...****! thats the only thing about this board is all the vile that get on it, Blues fans are banned as soon as they go on the vile one.
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historian
Steve Claridge
[ *  *  * ]
blooboy
Oct 30 2005, 02:45 PM
jester_villa
Oct 30 2005, 12:02 PM
Quote:
 
Villa set to agree £64m takeover

By David Harrison

ASTON VILLA will this week join the ranks of the Premiership's mega-rich.

The under-achieving Midlands club is about to move into a new era when the formalities of a takeover are concluded at a meeting in Birmingham on Wednesday.

Villa will come under the control of an Irish-owned property company, the Comer Homes Group, which has assets of £1billion.

Octogenarian Villa chairman Doug Ellis and major shareholder Jack Petchey have agreed to sell their combined stake of 58 per cent.

The bid of £5.60 a share will be put to the other shareholders over the next few weeks.

The package values Villa at £64.4million and they will become part of a giant conglomerate under the umbrella of Comer Homes.

It will be brought about by what is known in the City as a ‘reverse takeover' — Comer will effectively become Villa's parent company.

And it promises to lift Villa up among the Premiership's big spenders with an annual guarantee of 20 per cent of the Comer Group profits. That should give Villa a minimum of £20m per season to invest in the team and stadium facilities.

Although the takeover is being mainly financed by brothers Brian and Luke Comer, the frontman for the consortium is Solihull-based businessman and lifelong Villa fan Michael Neville.

He will be responsible for the daily running of Villa as executive chairman with Ellis remaining on board in a non-executive capacity.


Negotiations

Neville is involved in several companies, including the Ireland-based Minmet plc, which has interests in mining for gold, oil and gas. Two secretive offshore businessmen — one a South African — are also part of the consortium.

A source close to the negotiations confirmed: "When the deal is complete, it will take Villa into a new era.

"The fans can look forward to a big investment in players and facilities. The consortium recognise Villa have massively under-achieved and though the club has a sound financial base, the lack of playing success has been a big disappointment.

"They are determined to bring back the glory days of Europe and make the club one of the country's true giants once again."

Aston Villa won the European Cup in 1981, beating Bayern Munich 1-0 in the final.

But since then they have been starved of success, apart from League Cup wins in 1994 and 1996.

There has also been a widespread belief among the fans that the lack of progress has been due to Ellis's tight control of the budget.

The veteran chairman underwent a triple by-pass operation during the summer and was advised to cut back on his football activities.

He has always insisted he would never sell control of the club and claimed: "They will have to carry me out of here in a box."

But he has found an ideal compromise in that he can keep his perks and privileges as non-executive chairman while still handing over power.

The Comer Group's successful bid has seen off interest from a group of Russian investors, who were unable to satisfy Ellis's demands.

David O'Leary became manager 18 months ago.

Despite signing players like Kevin Phillips, Milan Baros and Thomas Sorensen, O'Leary has complained about the lack of resources.

The new consortium is likely to give O'Leary both time and money to prove himself — although they will make their ambitions utterly clear.

The deal has been brokered by Paul Garland, who was involved in the failed takeover bid by former Manchester City defender Ray Ranson. Garland is not expected to play any part in future administration.


Detail

Negotiations have been going on for several months through solicitors and the takeover is currently going through ‘due diligence,' with every detail of the club's financial standing being pored over.

Once the consortium is fully satisfied, a formal offer will be will be made to all Villa's shareholders.

That could take several months but will open the way for Villa to operate at the top end of the football market.

As well as being granted a 20 per cent share of the Comer Group profit each year, they have guaranteed that Villa will stay debt-free. The Comer brothers will become active supporters of the club as well as providing the bulk of the money.

They have built up their company from nothing and now own major property developments across London as well as a horse-racing stud in their native Ireland.



**thumbup **thumbup **thumbup **thumbup **thumbup **thumbup

thats all i have to say about this at the moment

i have something to say about it..ferck off, who cares i don't...****! thats the only thing about this board is all the vile that get on it, Blues fans are banned as soon as they go on the vile one.

no they're not, don't know why you all think that!!
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Blooboy
Unregistered

well i was :rolleyes:
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mr penguin
Sponsored by Flybe.com
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Good news for us I reckon.
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Joe Black
Ian Bennett
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Comer Homes Group will be building luxury apartments on villa park soon :lol:
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Willie
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Willie
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I still think £64 is a lot for that club.
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sam jordan
Unregistered

bless, a villa fan hoping to get rid of Ellis, that is news isn't it...

a story about a potential share purchase offer, that is news isn't it....

just another ploy to get share price up on the day... watch the price rise to-day, only to fall later in week, watch who sells during this period....

heard it all before, even if it happens I doubt anything will change, mid table drifting... but I guess jester is dreaming of something good, he has just witnessed them beat birmingham for the first time in the premiership, he is now letting his dream get silly, bless
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gazebo
Joe Hart
[ *  * ]
As others have said a club sitting on potentially valuable land assets is reported as being taken over by property developers. What a surprise.

Any Villa fans reading this may like to google "
Discain Project Services v Opecprime Developments" (Opecprime are part of the Comer group) which was quite a well-known court case, where the judge summed up Luke Comer's performance under oath.

"Mr Comer has deliberately and falsely stated events as he would wish them to have been. When challenged with the inconsistencies in his evidence, and with inherent improbabilities during cross-examination, Mr Comer's favoured resort was vagueness. He was in my judgment a totally unreliable witness".

A pretty damning judgement. The Comers lost the case.

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mr penguin
Sponsored by Flybe.com
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gazebo
Oct 31 2005, 08:48 AM
"Mr Comer has deliberately and falsely stated events as he would wish them to have been. When challenged with the inconsistencies in his evidence, and with inherent improbabilities during cross-examination, Mr Comer's favoured resort was vagueness. He was in my judgment a totally unreliable witness".


Sounds like he would make a perfect Premiership chairman.
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Forssell
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Peter Enckelman
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i was expecting something like £10 not £64 :o LOL :P
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jester_villa
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Steve Claridge
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Quote:
 
bless, a villa fan hoping to get rid of Ellis, that is news isn't it...


no not really, the only person holding villa back is doing. get the champers out

Quote:
 
a story about a potential share purchase offer, that is news isn't it....

just another ploy to get share price up on the day... watch the price rise to-day, only to fall later in week, watch who sells during this period....


of course it is thats one the club have confirmed the bid themselves, it might have been in the past even i have seen this but this one is true believe me.

Quote:
 
heard it all before, even if it happens I doubt anything will change, mid table drifting... but I guess jester is dreaming of something good, he has just witnessed them beat birmingham for the first time in the premiership, he is now letting his dream get silly, bless 


and it was sweet victory put you in the bottom three, that must hurt you mr jordan as you keep refering to it. if the takeover occurs it will beneficial to villa should they be interested in making villa a top team again. i mean at the moment we aint performing.
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tiltontrev
Keep Right On...
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Obviously just a money laundering scam by the IRA.
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sam jordan
Unregistered

tiltontrev
Oct 31 2005, 02:53 PM
Obviously just a money laundering scam by the IRA.

i Don't think the IRA are that stupid.
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sam jordan
Unregistered

jester_villa
Oct 31 2005, 02:35 PM
Quote:
 
bless, a villa fan hoping to get rid of Ellis, that is news isn't it...


no not really, the only person holding villa back is doing. get the champers out

Quote:
 
a story about a potential share purchase offer, that is news isn't it....

just another ploy to get share price up on the day... watch the price rise to-day, only to fall later in week, watch who sells during this period....


of course it is thats one the club have confirmed the bid themselves, it might have been in the past even i have seen this but this one is true believe me.

Quote:
 
heard it all before, even if it happens I doubt anything will change, mid table drifting... but I guess jester is dreaming of something good, he has just witnessed them beat birmingham for the first time in the premiership, he is now letting his dream get silly, bless 


and it was sweet victory put you in the bottom three, that must hurt you mr jordan as you keep refering to it. if the takeover occurs it will beneficial to villa should they be interested in making villa a top team again. i mean at the moment we aint performing.

Yes put us in bottom 3, only time you have beaten blues in premiership, still 4 -1 however u dress it up, we are in worst shape for yrs, so a hollow victory i feel.

and we realise we have prbs, but u only have 3 more pts than us...
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The_Bear
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Gil Merrick
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sam jordan
Oct 31 2005, 03:41 PM

and we realise we have prbs, but u only have 3 more pts than us...

:lol: nice!
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barryblue
Geoff Horsfield
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Ok Ok I'll go to £75 , Done...... now get rid of that green stuff and open them gates for me digger!
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k-bek
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Mikael Forssell
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:lol: PMSLOL :lol:

A property developing consortium led by a business man who is so rich he lives in Erdington

Yeah right, a very bright future is on the horison, I think not! lmfao
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Aussiebrum
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Mikael Forssell
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Seriously, did you read the bid has now stalled due to current Board being unsure of their ability to fund the deal, meaning they may not have the money they claim.

It's one thing for a company to have assets, yet it's very different havingt he free cash flow.

Personally though I couldn't care less, let the Irish buy the Villa, let them stuff it up and have the club fail cause no one will care at all.
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mr penguin
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gazebo
Oct 31 2005, 08:48 AM
a club sitting on potentially valuable land assets

In B6 ???
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Blue16
Malcom Page
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look at what o`leary did at leeds when he had money
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jester_villa
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Steve Claridge
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since when has the deal stalled? someone who knows them well on here (he might not want to be mentioned so i wont reveal unless he wants me to) says he knows a lot about these individuals and says they are as wealthy if not more than your board. he says it would be good for villa should it occur.
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sam jordan
Unregistered

jester_villa
Nov 1 2005, 01:44 PM
since when has the deal stalled? someone who knows them well on here (he might not want to be mentioned so i wont reveal unless he wants me to) says he knows a lot about these individuals and says they are as wealthy if not more than your board. he says it would be good for villa should it occur.

it is comer homes who are backing the bid, the guy doing it is no-one special.

One has to wonder what they think they will get for £65m investment, interest alone would equate to £6m, wiping out the profits, can't see them increasing profits as ellis cut costs to bone, and if they support with extra cash where will extra income come from?

they never fill that ground now, and best season they have had for yrs, first victory over blues... and STILL in cup,

If you had £64m to invest would u invest in a business with £6m profit (pre tax), with static turnover, costs already at low level?

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