Posted on 08/14/2006 12:41:07 PM PDT by E Rocc
LONDON: Aston Villa of the English Premier League said Monday that it had agreed to a takeover by Randy Lerner, owner of the Cleveland Browns in the United States.
(Excerpt) Read more at iht.com ...
Unlike Malcolm Glazier, Lerner seems to be financing the deal with his own money and not intending to transfer the costs of himself buying the shares onto the business he's buying.
Unlike Malcolm Glazier, Lerner seems to be financing the deal with his own money and not intending to transfer the costs of himself buying the shares onto the business he's buying.
That's it in a nutshell.
Lerner isn't using the club's assets to finance the deal. He's actually using his own money. Glazer bankrupted the club in buying it.
So! He will own two losing teams now. <dunks and runs for cover).
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