Yahoo News Aston Villa board changes arrive as major investment deal is confirmed
The addition of four new directors to the Aston Villa board has been confirmed days after a key agreement was cemented.
Over the weekend it was confirmed that the deal between V Sports, the Nassef Sawiris and Wes Edens firm that owns Villa, and American investment firm Atairos had been completed, with Atairos taking a minority position in V Sports.
V Sports continue to own 100% of Villa and have full operational control, but the completion of the deal sees four new faces added to the board of directors, as confirmed on Monday by filings with Companies House.
Joining the Villa board is Atairos chairman and chief executive, Michael Angelakis; managing director of Atairos, Chester Hall; while Canadian Bashir Lebada and American Sarah Louise Waterson have also been appointed.
In a statement provided to accompany the confirmation of the Atairos deal, Sawiris and Edens commented: “We are excited to enter this partnership with Atairos, which will provide capital to fund infrastructure investments and drive growth and sustainable value for AVFC and the broader V Sports network over time.
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“Atairos is an established investor and has successfully partnered with numerous leading companies in the leisure, sports, live entertainment, and media industries, including in the UK and Europe.
“We are confident Atairos is the right long-term strategic partner to support our next phase of growth, and we are pleased to welcome the Atairos team to the V Sports family.”
With offices in New York and Philadelphia, and some $6.5bn in equity capital, Villa represents Atairos’ first investment into football, with the company having a track record in providing capital for growth-oriented businesses.
In a statement, Angelakis said: “We have deep respect for Aston Villa, its rich history and loyal fan base, world-class management team and employees, and the V Sports ownership group.
“We are confident this partnership will provide further long-term support for the growth of the Premier League and Aston Villa’s men’s and women’s teams. We look forward to working with Nassef, Wes and the Aston Villa team to strengthen the Club’s ability to compete and achieve even greater success.”
