I am not too sure how true this is to be honest.
Can you seriously see Ellis without Aston Villa, and with that I mean being the chief, the head guy, the Don of Aston Villa?
The change in status alone would kill him.
I shouldn't bet against him clinging on for as long as he can - and it isn't really clinging as his power, or exertion of power, hasn't really diminshed at all. The last time I looked he was still the chairman, largest single shareholder and dominant force.
He will want it to be that way for as long as possible.
That, I would wager, is worth more to him than any kind of money