Nassef Sawiris & Wes Edens make ‘significant investment’ in Aston Villa

Paola Ditto
Luglio 21, 2018

Billionaires Nassef Sawiris and Wes Edens agreed a deal to take a controlling stake of Villa on Friday.

The assistant to Aston Villa owner Dr Tony Xia has commented amid speculation the club is about to be sold to a consortium from the Middle East.

But their problems seem to be over after Xia accepted a proposal from Egyptian Sawiris and American Edens, who is co-owner of National Basketball Association side Milwaukee Bucks. Aston Villa was acquired by Xia from USA businessman Randy Lerner in May 2016.

Since Villa lost the Championship playoff final against Fulham in May, aspects of the club's financial difficulties have come to light.

It is thought the Frenchman would prefer a Premier League job, but could be tempted with the challenge at Villa.

Sawiris whose family made their fortune in the construction business is worth £5.2 billion
Sawiris whose family made their fortune in the construction business is worth £5.2 billion Mikhail Metzel TASS Alamy

"I am extremely pleased to have formed a strategic partnership with Nassef and Wes".

Missing out on the top league was a fall from grace for a team that won the European Cup in 1982.

Sawiris is worth a reported £5.2bn, according to Forbes. The Birmingham club is based in Villa Park, originally a Victorian amusement park that's been the its home since 1887. His co-investor, Edens, has experience in sport, as he co-owns basketball franchise the Milwaukee Bucks.

"We believe that together we bring business and sports experience that will help strengthen the club to ensure Aston Villa can return to its rightful place in the upper echelons of English football", Mr Sawiris and Mr Edens said in the statement.

"We look forward to working with Dr Tony to undertake a thorough assessment and evaluation of the Club in the coming weeks and our priority is to strengthen the squads and structures ahead of the upcoming season and beyond", they concluded.

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