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Villa Park redevelopment


Phumfeinz

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5 minutes ago, villarule123 said:

Supposedly we sold the stadium for £56m to NSWE? Is this new news? 

Yeah just saw this today.

Apparently done quietly 5 weeks ago and one of the reasons we have been so confident about FFP.

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https://www.expressandstar.com/sport/football/aston-villa/2019/06/28/villa-park-sold-to-club-owners-in-567million-deal/

 

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Villa Park sold to club owners in £56.7million deal

Villa Park has been sold in a £56.7million deal to club owners Nassef Sawiris and Wes Edens, it can be revealed.

 

Documents filed with the Land Registry confirm the famous 123-year-old ground is now owned by NSWE Stadium Ltd, a company controlled by the billionaire duo.

They paid £56.7million on May 21 as part of a deal most likely designed to ensure Villa complied with the EFL’s profit and sustainability rules.

Sawiris and Edens are credited with saving Villa from financial doom when they became majority shareholders last July.

Fortunes have also picked up on the pitch, after the club won promotion back to the Premier League through the play-offs last month.

But the latest development will concern supporters, with Villa appearing to no longer having ownership of the ground they have called home since 1896.

Formerly a dormant shell company, NSWE Stadium Ltd was renamed from Aston Villa Ltd in March, with Sawiris and Edens installed as directors.

It is not clear, at this stage, whether the company remains within the group of companies controlled by the club.

The deal has similarities with that done by Derby, who sold their Pride Park Stadium to owner Mel Morris in order to comply with P&S rules, which allow Championship clubs to lose a maximum of £39million over the course of three seasons.

It proved a controversial move, with Middlesbrough chairman Steve Gibson claiming the Rams had exploited a loophole in the regulations.

Villa are expected to be compliant with the rules, with chief executive Christian Purslow telling supporters earlier this month the EFL had approved the club’s accounts for the 2018-19 campaign.

When quizzed about the possibility of a stadium sale during the same fan consultation group meeting, Purslow stated there were no plans to sell Villa Park to a third party.

But he stated the club’s assets, including Villa Park, remained under the ownership of companies companies controlled by Sawiris and Edens.

 

 

Edited by JAMAICAN-VILLAN
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7 minutes ago, villarule123 said:

Supposedly we sold the stadium for £56m to NSWE? Is this new news? 

Money shuffling - The first 'non good' thing Edens & Swaris have done - maybe they had no option - but Villa park is owned by a separate company than the the football club. At the moments thats not an issue as both companies are owned by the same people. Should that change then its pretty bad news.

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You'd think whoever buys us next will want the stadium as part of the deal.

I don't like it but I'm much more confident than I would be if we had different owners (4 miles down the road) 

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1 minute ago, villarule123 said:

You'd think whoever buys us next will want the stadium as part of the deal.

I don't like it but I'm much more confident than I would be if we had different owners (4 miles down the road) 

They would be bonkers not to insist as the stadium is part of the deal. problem is money talks.

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Cue over hysteria based on nothing .... I don’t care really it’s semantics at this point and money shuffling to bypass FFP or whatever. Don’t blame NSWE blame DR X and his partner in crime Wyness there actions got us to where we were financially and to avert that our owners have in essence bought Villa Park twice now. 

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"Aston Villa are planning major regeneration works that will involve demolishing the current ticket office and Villa Village merchandise stores, with plans for a museum or hotel to be built, BirminghamLive can reveal.

The club are already splashing the cash on the playing squad and now owners Wes Edens and Nassef Sawiris appear to be planning for major investment off the pitch."

https://www.birminghammail.co.uk/sport/football/football-news/what-aston-villa-demolishing-part-16503004

Hmmm - yet another attempt at the hotel in aston - good luck with that.

 

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1 minute ago, thabucks said:

Cue over hysteria based on nothing .... I don’t care really it’s semantics at this point and money shuffling to bypass FFP or whatever. Don’t blame NSWE blame DR X and his partner in crime Wyness there actions got us to where we were financially and to avert that our owners have in essence bought Villa Park twice now. 

So was Dr Tony lying about his qualifications.........

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On 25/06/2019 at 20:44, Rugeley Villa said:

They made a mistake by having The Holte End a two tiered stand .

When I was a younger man I would have agreed with you. Now it an old **** I can't be trapsing up a bucketload of steps.

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These guys know what theyre doing. Done 5 weeks ago? As in before the playoff final? Safeguarding against FFP should we not have won at Wembley and the authorities took a closer look at Mel Morris' stadium jiggery pokery before putting some sort of block on any clubs following suit? Smart guys. Trust in them.

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After Randy and his 'Villa were my team when I studied at Oxford' and 'lifelong fan' Xia we have two owners who have no qualms in saying they weren't fans and bought a club as businessmen. And low and behold with proper businessmen running the show we're finally being run properly. Who'd had thought? Selling the ground to yourselves so it looks like a business transaction but in reality you're just moving the TV from the living room to it's own TV room makes business sense in an FFP loophole. Especially when your CEO helped write the book on FFP.

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