US owner of 'struggling' Aston Villa puts up PL club for sale
American entrepreneur Randy Lerner, who is the owner of Premier League side Aston Villa, has reportedly put the club up for sale as he seeks a break from the world of football.
Lerner, who completed a 62.6 million-pound takeover of Aston Villa from Doug Ellis back in 2006, enjoyed early success at Villa Park with the club securing three straight sixth-place finishes under former manager Martin O'Neill.
According to CNN, however, after watching Villa struggle in recent seasons in the bottom half of the table, the former owner of NFL team Cleveland Browns confirmed that he has 'engaged Bank of America Merrill Lynch to advise on the club's sale'.
Stating that 'fates are fickle' in the business of English football, Lerner said in an official statement that the club is 'unfortunately limping amidst very meaningful injuries and constant sale rumors', adding that he feels it is now time for him to look for new ownership and thus new leadership.
Lerner though, is still grateful for the backing he has received from the majority of the club's supporters, while he is hoping Villa will go from strength to strength after his departure.
After ultimately being unable to break into the top four of the English Premier League and secure Champions League football, the American has had to embark on a cost-cutting program in recent seasons like selling star players to rival clubs, the report added.
(Posted on 13-05-2014)