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Takeover parts 1 & 2


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There's only one thing I'm certain about in all of this.

As things stand, Michael Neville comes over as someone who we don't want running Aston Villa FC.

I quite agree, said it on the front page a while ago

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Hello all, I live here in Galway. This was posted earlier this week. Does'nt really shed too much light on the picture but thought you might be interested. Overall, I do not really believe these guys prime interest is the good of Aston Villa.

http://www.galwayadvertiser.ie/dws/story.tpl?inc=2002/03/23/news/30702.html

Date: 23-03-2002-

Galway takeover of Villa will go ahead by May, says brother

BY MARY O'CONNOR

The brother of the two multi-millionaire Glenamaddy men who have been in on-off negotiations for the past six months to buy Midlands soccer club Aston Villa says he believes the € 96 million deal may go ahead this time.

Businessman Billy Comer, the older brother of Luke and Brian, who lives in Shannaugh outside Glenamaddy, was commenting in the wake of media reports that the takeover bid is still on track and that the deal may be signed and sealed by May.

He said negotiations appear to be taking place again between his brothers - who started out working here as plasterers before moving to England in the mid 1980s and who are leading a consortium - and the premiership club which is 132 years old this month.

"I was surprised to hear negotiations were back on. It would be nice if it [the deal] went ahead, I feel it might this time. I'm still hopeful. They might get it for a few million less than before. According to them before, it was 15 million overpriced."

The Comer brothers, who have developed reputations as shrewd investors and whose property company is worth € 1.5bn, are not likely to rush into anything. Reports say they were attracted to the Birmingham club, not for sentimental reasons - they are not fans of the side - but because of the prospect of developing land owned by it within the grounds of Villa Park. While they attend premiership games regularly their real love is gaelic football.

Billy, who won the Lotto jackpot in the mid 1990s and who used to work at the Customs and Excise Office in Galway, says the talks have been going on since October.

"Many people thought it was all off. People are often asking me about it but I wouldn't say anything."

His brothers are remaining tight lipped, too. When approached recently at Cheltenham, in the company of Billy's son Shane (24) who works with them, they declined to comment on the takeover.

"I'm always with them at Cheltenham. This is the first time I missed it for 15 years - I was too busy with the new businesses," says Billy, who is the proprietor of the newly opened "Sabrina's Tandouri (named after his daughter), Comer's Glenview Bar and James Kilkenny's Bookmakers in Glenamaddy.

He says his brothers, who are based in Hertfordshire, would view the deal as a big step and would not rush into it.

"You don't do these things lightly. There is so much involved."

If the takeover goes ahead, it would be great for the region and Ireland as a whole, he says.

"I'd be very happy if it went ahead. It would be great for the west and Ireland that two people from a tiny village could buy a football club."

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Galway takeover of Villa will go ahead by May, says brother

BY MARY O'CONNOR

The brother of the two multi-millionaire Glenamaddy men who have been in on-off negotiations for the past six months to buy Midlands soccer club Aston Villa says he believes the € 96 million deal may go ahead this time.

....They might get it for a few million less than before. According to them before, it was 15 million overpriced."

....He says his brothers, who are based in Hertfordshire, would view the deal as a big step and would not rush into it.

"You don't do these things lightly. There is so much involved."

I said this would be the case in December

"I am of the view that the price will need to come down for it to go ahead. And come down a fair bit.

With Ellis no doubt wanting all kinds of things guaranteed and his place set out in stone, one side will have to budge a lot.

It might happen, but it'll take a while.

And then the shareholders have to vote on it. "

In early Jan, I also said "...from Ellis' viewpoint.

Basically he's in the end game, isn't he. He has some control over matters, but not the power of control he used to have. We all know this.

The board know it to, as do the media.

Thinking about it tonight, I feel more confident, rather than less that the deal will happen. Which isn't perhaps saying much, as I have been very, very, sceptical all along.

To me it depends if he will accept a lower price, and if so how much lower.

Maybe 5.40 would be his aim, now, realistically

Maybe the Comers will be looking at around 4.80 as their ideal price.

Split that, and you have around 5.10, or 56-7 million quid.

We'll see.

-----

Can't see any reason to change my mind, either.

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Has anyone ever suggested that Ellis and Neville could be colluding together to keep the wolves at bay.

I'm sure irrational as it seems it might be possible, especially if Neville didn't have the Comers backing and Ellis didn't have another option

I'm sure that some people suggested that this was just a smokescreen back in November, again in December and January etc etc etc

However these mad irrational postings were rightly poo-poo'd by the more intelligent and worldy wise forum members with their greater understanding of all things Villa politik and their inside information on how it was all progressing so smoothly and their inate understanding that for once, or at long last, cuddly was telling the truth.

Ho hum.

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No, he won the Lotto and then his brothers built a company with £1bn of assets - wonder where they got the start up capital from?

No one ever mentions the level of their liabilities and anyone with experience of working with property companies will realise that much of this asset bank is mortgaged to provide liquid cash to fund further purchases/developments.

Worth = assets - liabilities

Anyone looked at their accounts to see what the level of long term debt that the Comers have? I'd expect it to be considerable, may be up to 50% of their assets. Poor lads, they're probably only worth half a billion after all.

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Its one thing being proven right Blandy, I know.

Its another telling everyone so, I know

But to go to the trouble to look back in the archives to dig out the original comments is something again :)

1 - he should be bloody used to it by now ;-)

2 - better to say one thing and stick to it than fire loads of things off knowing one will hit the target, and celebrate success is a good, if not very English thing to do

3 - saves anyone else the bother

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Its one thing being proven right Blandy, I know.

Its another telling everyone so, I know

But to go to the trouble to look back in the archives to dig out the original comments is something again :)

1. I haven't been proven right, yet, and may be totally wrong

2. I kept the posts, or at least the links, because, I was trying to do this "blog" thing, which I eventually managed.

3. Vanity - obviously, I'd have never mentioned it again if I was completely wrong, but I'm convinced that I'm not. :)

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Outbyeaster said:

the benificiary's of which have no real interest in this club, or it's future

Much the same as the current chairman then.

Billy Comer said:

"They might get it for a few million less than before. According to them before, it was 15 million overpriced."

And according to Ray Ranson as well, but the chairman will hear nothing of that!

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I haven't read many of the posts in this thread to be perfectly honest so I apologise if Im going over old groud, I'll catch up a few pages at a time this evening.

But with the lies that appear to have been told by Neville, and the complete inability to clinch a deal, I can't really see this guy is any improvement on what we have in place already.

I really hope these guys walk away and Rothschilds find someone who can conduct business in a businesslike fashion.

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You are saying the brothers who have built a multi million pound property empire won't be better than Ellis who has managed to turn the European champions into a loss-making, bottom-half tabe team?

I know people say 'better the devil you know' and all that but this has got to be the better option. The Rothschilds thing has confused me about it though. Why go to all the trouvble over Rothschilds then?

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They have as much interest in Aston Villa Football Club as cuddly has in spending his own money.

ellis has run the club into the ground until the only people interested in it will be the vultures looking to pick the bones.

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You are saying the brothers who have built a multi million pound property empire won't be better than Ellis who has managed to turn the European champions into a loss-making, bottom-half tabe team?

Ali, the Comers are just giving the money. It'll be Richards who runs the club.

And lets face it, from what he's said so far, it can't fill you full of much confidence.

At the end of the day, we don't want to replace Ellis with a younger version.

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