IRISH PROPERTY COMPANY TARGETS VILLA TAKEOVER

By Ryan Ghee
October 30 2005

Aston Villa are once again the subject of more takeover speculation with an Irish property company reportedly set to make a £64m bid for the club.

Today's 'News of the World' has revealed that the Irish company are in the process of adding the final details to the offer and a bid could be made as soon as Wednesday November 2nd.

The company who are behind the proposed takeover are 'Comer Homes', and it is believed that they will offer chairman Doug Ellis and major shareholder Jack Petchey £5.60 a share for their combined stake of 58% of the club. In total, the takeover would cost £64.4m.

Should Brian and Luke Comer - the financial force behind the bid - be successful in their attempt to gain control, they have promised to invest 20% of the Comer Group's profits on a yearly basis. This means that Villa will have at least £20m to spend every year on new players and on stadium improvements.

A source close to the Comer brothers said, "When the deal is complete, it will take Villa into a new era. The fans can look forward to a big investment in players and facilities.

"The consortium recognise Villa have massively under-achieved and though the club has a sound financial base, the lack of playing success has been a big disappointment.

"They are determined to bring back the glory days of Europe and make the club one of the country's true giants once again."