leviramsey's Journal: UP THE VILLA!

Ellis is out! Ellis is out!

English Premier League soccer club Aston Villa (ASV.L: Quote, Profile, Research) said on Monday it had agreed a 62.6 million pound ($119 million) cash takeover by a group led by U.S. billionaire Randy Lerner.

The 44-year-old Lerner, former chairman of credit card issuer MBNA and owner of the Cleveland Browns American football team, said he planned to get the team back on track. "It is my belief and the basis for my bid to acquire Aston Villa Football Club that it can compete at the highest level within the Premiership and in Europe," the American said in a statement.

I don't think this is either a Glazer or Abramovitch situation... AVFC don't have the assets to strip of Man Ure, and it doesn't seem like Lerner wants a Chelski-esque plaything where when he gets bored of losing money and winning championships, the club will be left in massive debt.