Ellis confirms 'interesting' approach for Villa

Doug Ellis has confirmed Aston Villa are “proceeding with an initial inquiry” regarding a possible takeover of the club.

The Villa chairman told shareholders at today’s annual general meeting that he hopes to know within the next month whether the proposal from a mystery group will be firmed up.

Ellis rejected a £47m (€69m) bid from a consortium including former Manchester City player Ray Ranson in July and there has been speculation regarding investors from Russia wanting to buy Villa although this has been denied.

The 81-year-old insisted any would-be buyers must have the best interests of Villa at heart before he contemplated any sale although a figure of £60m (€87.6m) would be realistic in the current market.

He said: “I am unable to say much on the matter because of Stock Exchange rules until a conclusion is reached.

“Shareholders can be assured that should a firm proposal be made, which provides the board with confidence as to the future of the club, then a future announcement will be made.

“We are proceeding with that initial inquiry that we have received and, if it comes to fruition, then we can give you a complete answer.

“We have had an approach, and it is interesting, there is no doubt about that. But it isn’t finalised. We are still working on it.

“What I will say is my criteria is that we only want people who are seriously interested in the future of Aston Villa. Of course, the price is important but it is not as important as my criteria to have the right people to take this club forward.

“We have a proposal which, if it does succeed, means there will be no need to be actively engaged pro-selling the club. I hope to be able to let people know more within the next month.”

Ellis is Villa’s leading shareholder with 33% but he rejected calls from the floor to stand aside from any negotiations because he would have a vested interest in the sale of the club.

He said: “I will not stand aside because I am responsible to you and all other shareholders and I will be looking for the best possible deal for Aston Villa.”

Ellis sidestepped questions about how long he would remain in his role after undergoing triple heart bypass surgery in early June.

He also claimed that any changes on the management side – the club are still searching for a replacement for chief executive Bruce Langham who resigned in May – would have to be put on hold until the possible takeover talks had been concluded.

As has become customary, Ellis failed to win a re-election via a show of hands at the meeting but he again exercised his proxy vote which gave him 99.2% of the votes.

He came in for criticism from certain shareholders and Villa Fans Combined spokesperson Jonathan Fear walked out of the meeting in protest at Ellis and the board of directors.

Fear said: “You are killing the club. You should all resign. This meeting is all spin and bluster. You are a disgrace to this club. I am walking out.”