Tue, 13 May 2014 | BUSINESS SALE
American owner Randy Lerner has put Aston Villa Football Club up for sale.
The Premier League team finished in 15th place in the season that ended on Sunday. After much speculation and doubt over his future as the club’s owner, Mr Lerner confirmed yesterday (12 May) that he is looking for a buyer for Birmingham-based Villa.
Mr Lerner bought the side in 2006 for £63.6 million but said the time had come for “fresh, invigorated leadership” to take the club forward. When he came to the helm eight years ago, the American said that he wished to push Aston Villa back to the top of European football but instead the team has recently found itself in an ongoing scrap just to stay in the top division of English football.
In a statement, Mr Lerner said: "Several weeks back I said that following the end of the season I would clarify my future role with the club, and address what had become seemingly constant rumours of a sale.
"I have come to know well that fates are fickle in the business of English football. And I feel that I have pushed mine well past the limit."
Bank of America Merrill Lynch will advise Mr Lerner on the club's sale and it is expected that he will be looking for a price of around £200 million.
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