Business, CEO, Wes Edens

Wes Edens and Naseef Sawiris Purchase Majority Stake of Aston Villa

Earlier this year, Wes Edens, co-owner of the Milwaukee Bucks also became a co-holder of a majority stake in the English soccer club, Aston Villa. He partnered with the Egyptian billionaire, Naseef Sawiris, in the deal. (Sawiris is estimated to be worth about $6.9 billion.) Sawiris and Wes Edens obtained the 55 percent ownership stake for a reported $39 million. The Aston Villa club has not been doing well for several years. Up until 2016, it had been a member of the internationally revered Premier League. The Premier League only allows for the top 20 clubs in the nation in its fold. Read more about Wes Edens at Wikipedia.

After a losing streak, it was finally kicked out and relegated to the minor league, Championship division. This past May it almost earned its way back in the PL but barely missed out because of a loss in the Championship division finals, losing to the Fulham Football Club. That was the last straw for the businessman Tony Xia, the former majority stakeholder. He had been facing serious money issues due to the elongated losing streak and was at this time forced to sell his majority ownership stake to Sawiris and Wes Edens. It was at that time that he put his shares up for sale.

However, he will remain in the management of the team, serving as its co-chairman and member of the Board of Directors. He feels extremely optimistic about the sale of the shares to Nassef and Wes Edens and feels confident the two will be instrumental in helping the team win its way back into the Premier League. Aston Villa has its home at Villa Park. It has been headquartered here since 1887 when the area was a Victorian amusement park. It is not unusual that all three of these men are foreigners who held stakes in this English club. Xia first purchased his shares in 2016 from U.S. businessman, Randy Lerner. It has been true for several years that most of the major English teams have been owned by foreigners.

View: https://www.linkedin.com/in/wesley-edens-a6b19b3a

 

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