probably been covered but
Statement from Browns owner Randy Lerner
August 14, 2006
On Sunday evening, Reform Acquisitions, which is owned by Randy Lerner bid for Aston Villa FC, a Premiership Football Club in Birmingham, England. This bid was made in accordance with British takeover law under which the bid must remain outstanding for 21 days after which, should there be no superior bid, the purchase would occur. In effect, the Club is a public company and is therefore being purchased from its shareholders.
“The basis for acquiring Aston Villa is that it is a storied Club dating from the 1870’s with periods of treasured memories and glory,†said Lerner. “Currently it faces the need for reinvestment in a variety of areas which many of its competitors have underway or have completed in recent years. The opportunity to be a part of strengthening Villa’s business operations and facilities represents a broad set of challenges that I’m eager to take on.â€
Cleveland Brows O/S