Randy Lerner sells Aston Villa to Recon Group
By iSportconnect | May 19, 2016
Aston Villa Football Club have announced that an agreement has been signed for the sale of 100% ownership by Randy Lerner to Recon Group owned by Dr Tony Jiantong Xia subject to the approval of the Premier League and the Football League.
Once those approvals have been granted and the new board members approved under the fit & proper rules of both leagues, Dr Xia will become Chairman of Aston Villa.
Recon Group is Dr Xia’s privately owned holding company that owns the controlling interest in five publicly listed companies on the Hong Kong and Chinese stock exchanges and many other private companies employing 35,000 people in 75 countries.
Dr Xia played football as a striker until he finished at college and football has remained his passion. Dr Xia decided to buy an iconic football Club in England as the cornerstone of his Sports, Leisure and Tourism Division.
He became a fan of Aston Villa many years ago and is delighted at the opportunity to become the new owner.
Dr Xia’s immediate objective is to return Aston Villa to the Premier League and then to have the Club finish in the top six, bringing European football back to Villa Park.