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Articles on football club takeovers and related issues
What is claimed to be a ‘miscommunication’ led to Aston Villa overstating the number of companies under the control of new owner Tony Xia.
It was claimed that his company had the controlling interest in five publicly listed companies. In fact it only has a 75 per cent stake in Lotus Health, a large producer of the food additive MSG. Four other companies are said to be in the process of acquisition.
Aston Villa has been sold to Chinese businessman Tony Zia for £60m. Xia has a strong track record as a businessman in China. His Recon Group is a holding company which controls five companies.
The new owner says that he is prepared to spend £50m on new players and wants to make Villa the most popular club in China.
Outgoing owner Randy Lerner sank tens of millions of pounds into the club during his period of ownership. He said farewell in a rambling statement on the club website.
The sale of Aston Villa to a Chinese businessman could be completed by the end of the week. It is thought that the asking price will be around £60m.
That would represent a loss on the £62m Randy Lerner paid for the club ten years ago before taking account of inflation, although some sources are quoting a sale price of £75m. Lerner at one time wanted £200m for the club and then cut the price to £100m.
Aston Villa are reported to be in talks with a Chinese consortium about a takeover. The Rui Kang group is said to be involved and Chinese sources are claiming that a preliminary non-binding agreement is already in place.
Rui Kang is a pharmaceutical company with foreign investment and a strong presence in Hong Kong. However, other reports refer to venture capitalists.
A sale price of £100m is being quoted.
A deal is expected to be concluded which will lead to former Crystal Palace chairman Mark Goldberg taking majority control at Welling United. The Wings have been relegated to the National League South.
Barry Hobbins has been involved with the club since it was formed in 1963, at one time sharing ownership with his brother who passed away.
The owner of AC Milan, Silvio Berlusoni, has been in negotiations with Galatioto Sports about the sale of the club. They are representing a Chinese consortium headed by Robin Lee, the sixth richest man in China.
The intial offer would be for 70 per cent of the shares and is believed to be €700m. The remaining 70 per cent would be acquired at a later date.
A new prospective purchaser for Charlton Athletic has appeared on the scene, reports fanzine Voice of the Valley. It is being fronted by former Addicks defender Paul Elliott who is a regular in the directors’ box at home matches.
An earlier approach fronted by former Addicks chief executive Peter Varney was rebuffed by the club. However, the club has been more responsive to this bid.
Wolverhampton Wanderers have been for sale all season at a realistic price, but have not found a buyer. The club does not want to sell to just anyone who might put its future in jeopardy.
As its chief executive explains, there is a belief that there are plenty of buyers around with tens of millions to spend, but in fact there are quite a few clubs for sale and relatively few buyers.
Swansea City are in talks with American investors about a £100m takeover of the club. The Supporters’ Trust would retain its 21 per cent stake and a seat on the board. The Trust has issued a statement outling its initial reaction to the proposal.
The sale of Notts County is reported to be close. It could take place within a week or even tomorrow. The identity of the purchasers is not known, although there has been speculation about an American consortium. Potential Danish and Chinese buyers have also been interested.