About The Purchase
Nassef Sawiris teamed up with Wes Edens to purchase a large 55% stake in Aston Villa, an English soccer team that almost rejoined the premier league this past season. Tony Xia is the owner from 2016, he will remain on the board as co-chairman. this purchase will cost Wes Edens and Nassef Sawiris 30 millions pounds, which is about $39 million USD. The majority of the big time English soccer teams have been purchased by rich foreigners over the last 12 years. Chelsea was purchased by Roman Abramovich, the Glazer family purchased Manchester, and Liverpool was bought by the Boston Red Sox owners. Randy Lerner actually purchased Aston Villa from Tony Xia in 2016.
Falling From Grace
Aston Villa fell out of the Premier League in 2016 and started playing the second-tier Championship division. The team then invested in new players to try to regain its place in the Premier League but then it lost to Fulham Football Club in the Championship final. Tony Xia says the loss was quite humbling. He feels that with a new partnership with Nassef Sawiris and Wes Edens the team may have a whole new fighting chance. Falling from the Premier League was a big hit to the 1982 European Cup winners. The club has been based in Villa Park, which used to be a Victorian amusement park, since 1887.
About The Investors
Nassef Sawiris is worth about $6.9 billion on the Bloomberg’s Billionaires Index. He has quite a few high-profile investments, some of which include shoemaker Adidas AG, cement maker LafargeHolcim, Ltd. and nitrogen-fertilizer firm OCI NV. He runs those companies. In some cases he uses his investment vehicle, NNS Holdings, to hold the stakes on his behalf. Wes Edens is an American Businessman as well as a private equity investor. He is also the co-owner of the national basketball team, Milwaukee Bucks. Wes Edens and Nassef Sawiris feel that by joining together their experience with business and sports they can bring strength to the club and boost Aston Villa back to its top-ranked position.