SELL! SELL! SELL! VILLA SHARES ADVICE

30-08-2006

Aston Villa fans have been advised by a leading Birmingham stockbroker to sell their shares to their club's new owner Randy Lerner....

Clive Bullock from Tilney Investment Management told a meeting of around 35 supporters at Aston Social Club last night that they may as well cash in on the offer made by the U.S. businessman.

Lerneris paying more than £62 million to buy Villa from Doug Ellis and is expected to formally assume control next month.

The combined interest of Ellis and another major stakeholder Jack Petchey amount to more than 50% which guarantees that the American will have overall control.

But he wants 75% of the shares, allowing him to take the club off the Stock Exchange and go private.

That will mean that any semblance of democracy disappearing from Villa Park.

Fans who currently get to inspect the finances and question directors at an annual general meeting would no longer be able to do so.

Under the existing set up, chairman Ellis was routinely voted out of office by a show of hands - only to retain his position thanks to the number of shares he and Petchey controlled.

It proved that accountability at the club was a sham, but at least allowed fans to vent their anger in public.

With Lerner in charge, that option will disappear.

As one supporter put it: “I don't want one man to have control as a matter of principle”.

Another added: “Villa fans don't want to be jumping out of the frying pan into the fire.”

Stockbroker Clive Bullock told the meeting (organised by the fanzine Villa Matters) that supporters might as well sell their shares because in future they'll only have value as mementoes.

Lerner has said that in any case he'll return certificates to fans who are willing to sell them, so they can havea souvenir of their involvement in the club.

The sale price of £5.87 represents a huge loss for investors who bought them at the issue price of £11.

Doug Ellis, on the other hand, having bought shares cheap before the club went public, will have made an estimated £29 million from his dealings at Villa.

Maybe that's why, despite a few reservations - especially about the possibility of re-naming Villa Park - most fans welcome Lerner's arrival.

Surely, they say, he can't be worsethan Deadly.