Skip to content

Aston Villa’s American owner, Randy Lerner, puts club up for sale

May 12, 2014, 7:05 AM EDT

Randy Lerner AP

After eight years as Aston Villa’s owner American businessman Randy Lerner is finally selling up.

Rumors have persisted throughout recent months that Lerner, 52, would sell Villa this summer and just one day after the 2013-14 season ended the former Cleveland Browns owner has put the Midlands club on the market where they are believed to be valued at $300 million.

In a statement on Villa’s website Lerner gave detailed reasons for selling up as he believes that fresh impetus and a new approached is needed to life the club back to its glory days of the past. During his time at the helm of Villa they finished in in the top ten four years in a row from 2007-2011, with Martin O’Neill delivering three top six finishes back-to-back.

Lerner, from Brooklyn and estimated to have a fortune worth over $2 billion, just couldn’t transform Villa’s fortunes on the pitch as several top players including Garteh Barry, James Milner, Gary Cahill and Ashley Young moved on in recent years.

However over the last three seasons the club has battled against relegation with Alex McLeish and Paul Lambert at the helm, as Villa’ approach of nurturing young talent and being frugal in the transfer market hasn’t paid dividends. Lerner will leave Villa in good shape as their Bodymoor Heath training ground and Villa Park stadium boast some of the best facilities in the PL.

In his statement on the website Lerner confirmed he has engaged Bank of America Merrill Lynch to work on the sale of Villa, and this is what he had to say about his decision.

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 rumors 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. The last several seasons have been week in, week out battles and having now come through this last season unfortunately limping amidst very meaningful injuries and constant sale rumors, I feel further that now is the time for me to look for new ownership and thus new leadership.

Above all, the debt I owe Aston Villa whether as owner, Chairman, custodian or simply as a fan is to put the Club first. To make good on that debt, I owe it to Villa to move on, and look for fresh, invigorated leadership, if in my heart I feel I can no longer do the job.

Latest Posts
  1. Reports: Manchester United submitted two bids for Gareth Bale over $110 million

    Aug 3, 2015, 9:28 PM EDT

    Bale Getty Images

    Apparently Louis van Gaal really, really wants Gareth Bale on his team.

  2. Report: AZ Alkmaar speaking with Werder Bremen about Aron Johannsson

    Aug 3, 2015, 7:55 PM EDT

    Johannsson Getty Images

    Could the USMNT forward be thinking about a move to the Bundesliga?

  3. Brighton brings back club hero Bobby Zamora, fans explode with joy

    Aug 3, 2015, 7:05 PM EDT

    Zamora Getty Images

    Bobby Zamora has returned to his old club 12 years after leaving, and Brighton fans couldn’t be more excited.

  4. Agent says Gonzalo Higuain rejected Napoli contract extension

    Aug 3, 2015, 6:20 PM EDT

    Higuain Getty Images

    Gonzalo Higuain won’t be leaving Napoli this summer, but he’s not impressed by the club’s feeble attempt at a contract extension.

  5. Juventus lose Sami Khedira for 2 months to hamstring tear

    Aug 3, 2015, 5:35 PM EDT

    Khedira Getty Images

    A massive blow to Juventus puts them on alert for midfield cover.

  6. Will this year’s Liverpool spending spree work better than the last?

    Aug 3, 2015, 5:00 PM EDT

    FirminoBenteke Getty Images

    Liverpool has spent big for the second straight summer, but it appears the Reds may have learned a valuable lesson.

  7. Lyon announces deal for Manchester United wing-back Rafael

    Aug 3, 2015, 3:48 PM EDT

    Rafael Getty Images

    Rafael’s rocky seven-year tenure with Manchester United is over as he heads to France.

  8. Premier League Goalkeeper preview: Who’s in our Top Five, and who switched clubs?

    Aug 3, 2015, 3:00 PM EDT

    <> at Emirates Stadium on July 28, 2015 in London, England. Getty Images

    Not a great deal has changed in the world of Premier League goalkeepers this offseason, but among the differences is a huge one: Petr Cech has moved from Chelsea to Arsenal.

  9. Best starting lineups for all 20 Premier League teams – Do you agree?

    Aug 3, 2015, 2:25 PM EDT

    PST selects the strongest XI’s for each PL team ahead of the 2015-16 season. Let us know what you think.

  10. Cristiano Ronaldo, Karim Benzema out injured for Real Madrid

    Aug 3, 2015, 1:00 PM EDT

    Real Madrid v Schalke 04 - UEFA Champions League Real Madrid v Schalke 04 - UEFA Champions League

    Forwards both left off Real’s Audi Cup squad after training ground injuries.

  11. Monday’s Transfer Rumor Roundup: Van Dijk to Southampton, Benzema to Arsenal

    Aug 3, 2015, 12:15 PM EDT

    All of the latest gossip from around the PL, right here.

  12. VIDEO: Watch Arsene Wenger snub Jose Mourinho handshake. Who is in the wrong?

    Aug 3, 2015, 11:30 AM EDT

    Arsenal v Chelsea - Premier League Preview Getty Images

    Wenger and Mourinho’s feud continues, but should both manager’s bite the bullet and make up?

  13. Paris Saint-Germain a “step up” from Manchester United for Angel di Maria

    Aug 3, 2015, 10:42 AM EDT

    FBL-FRA-LIGUE1-PSG-NICE Getty Images

    PSG’s skipper Silva is risking the wrath of United’s fans around the globe.

  14. Cristiano Ronaldo buys his agent a Greek island… as a wedding gift

    Aug 3, 2015, 9:40 AM EDT

    Cristiano Ronaldo Signs Contract Renewal For Real Madrid Getty Images

    Real Madrid superstar is a baller on and off the pitch.

  15. MLS Snapshot: Chicago Fire 2-0 FC Dallas (video)

    Aug 2, 2015, 9:15 PM EDT

    Accam Getty Images

    David Accam helped lead Chicago Fire over FC Dallas to end the visitors five-game winning streak.

  16. WATCH: Ex-Barcelona midfielder Xavi scores a wonderful free-kick on debut for Qatari club

    Aug 2, 2015, 8:06 PM EDT

    Xavi Getty Images

    Xavi gets up for preseason friendlies, and in his first match for his new club, the 35-year-old rips a classic free kick.

  17. MLS Snapshot: San Jose Earthquakes 0-0 Portland Timbers (video)

    Aug 2, 2015, 7:03 PM EDT

    Valeri Getty Images

    Diego Valeri missed a penalty as neither side could take advantage of its few big chances.

Featured video

What can we expect from PL new boys?