Irish Consortium in for Villa - 01/11/2005

Aston Villa has received a preliminary takeover approach from an Irish property consortium. Although no offer has been tabled, the consortium's bid is believed to be worth 560p a share, valuing the club at more than £60m. Shares in the club rose on Monday by 57.5p or about 14 per cent to 475p. The consortium is being led by Michael Neville, chairman of World Television, a quoted media group. He is believed to be acting for Luke and Brian Cromer who are Irish property developers. Anyone acquiring the club will get a large stadium on which considerable work has been carried out, a valuable property portfolio and the chance to revive the 'sleeping giant of the Midlands' and lift it from its position perilously close to the bottom of the Premiership.