Ellis seeks positive outcome to takeover saga

Aston Villa chairman Doug Ellis has reiterated his commitment to reaching a “prudent and positive outcome” to the takeover talk surrounding the club.

Ellis, whose club today announced an operating loss of £9.4m (€13.7m) for the six months ended November 30, 2005, has hired financial advisors Rothschild to seek a buyer for Villa.

Irish property developers the Comer brothers – whose Aston Villa Investments Limited consortium is fronted by lifelong Villa fan Michael Neville – remain “very optimistic” of taking charge of the club.

However, Ellis confirmed to the Stock Exchange that the consortium have not, to his knowledge, carried out due diligence so far and is yet to be provided with evidence of their financial ability to proceed with the acquisition.

Villa’s losses were up by £600,000 (€874,600) from the 2004 results for the same period, with revenue falling from £19m (€27.7m) to £17.7m (€25.8m), with a £600,000 reduction in television income cited as the reason for the drop.