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Villa confirm preliminary takeover talks

31/10/2005

Aston Villa have confirmed that they have received a "preliminary approach" from an investor looking to take over the historic Midlands club.

The directors of Aston Villa plc announced the news to the London Stock Exchange this morning.

Michael Neville, a lifelong Villa fan, submitted the preliminary bid on behalf of a consortium group although precise details have not been disclosed.

The Premiership club's board have indicated they have not yet met with any other members of the consortium group.

They also confirmed that they have not received any information surrounding the availability of sufficient funding to support any potential offer and they are therefore treating the approach as "speculative" at this stage.

A statement on the club's website said: "The board will continue to look at maximising shareholder value and also ensuring that the club is sufficiently funded for the future.

"Shareholders will be updated of any further developments."

Reports this weekend suggested Neville was leading the approach on behalf of the owners of the Comer Homes Group, Irish brothers Brian and Luke Comer.

Current Villa chairman Doug Ellis owns 39 per cent of the club, with access to another 12 per cent, while former Watford chairman Jack Petchy is the other major shareholder at Villa Park.

A bid in the region of £64.5 million is thought to be needed to buy out Ellis and Petchy.

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