Lerner edges closer to Villa takeover

Randy Lerner's proposed takeover of Aston Villa moved a step closer when it was announced Doug Ellis and Jack Petchey had sold their shares in the club.

Aston Villa Shareholders' Association backed the bid of American billionaire Lerner by staging an EGM last night and voting to sell their shares and in effect disband after 34 years.

Lerner who had a £62.6million bid accepted 10 days ago by Villa chairman Ellis, now has a clear path to take charge following the withdrawal from the contest of the Michael Neville-led consortium.

A statement to the Stock Exchange today confirmed Lerner had 59.69 per cent of the club's shares.

Lerner needs 75 per cent of the shares to assume full control of Villa and getting a 90 per cent stake means he would be legally entitled to buy the the remaining 10 per cent.

Keith Harris, an advisor to Lerner, told BBC Radio Five Live: "We would expect in the next week for other shareholders to follow suit and then there might be good news."

While there are parallels with Malcolm Glazer's takeover at Manchester United - Glazer is also American - Harris believes the two takeovers are totally different.

"From the fans' point of view, they have welcomed him (Lerner)," Harris added. "The Villa fans want change.

"Randy has inherited a club without borrowing huge sums of money which would be needed to service a debt."