Thursday, 13 Dec 2018

Nassef Sawiris and Wes Edens – Acquisition by Aston Villa – which we know until Tony Xia finally signs a deal

Completed Business

Aston Villa has confirmed that the club will benefit from NSWE's what they call "significant investment capital", which will help alleviate the club's ongoing financial woes.

The claret and blues have been looking for outside investment in recent weeks and months to lessen the burden of missing out on promotion to the Premier League at the end of last season.

Dr. Tony Xia has negotiated with a Middle East consortium, as disclosed exclusively by BirminghamLive and now the club has confirmed that a deal has been approved by the EFL.

Xia will remain on the board and become co-chairman. [19659003] NSWE is led by businessmen Nassef Sawiris and Wes Edens, and they will now invest in the club, including reinforcing the player squad.

meeting of the owners

Nassef Sawiris

An ambitious member of Egypt & # 39; The richest family is behind the takeover of Aston Villa, writes Gregg Evans.

Nassef Sawiris has a contract with Tony Xia.

The Sawiris family is the most famous and richest family in Egypt – but what else do we know about them?

Well, they have made an incredible fortune over the years.

Forbes estimated the combined net assets of the family at $ 36 billion, underscoring their financial strength.

Who is Nassef Sawiris? The Egyptian behind the acquisition of Aston Villa

Wes Edens

The American businessman Wes Edens is the other man involved in the acquisition.

The 56-year-old has a sporting background and is co-owner of NBA franchise Milwaukee Bucks in the US.

Edens has also invested heavily in the increasingly popular eSports world and owns FlyQuest, a League of Legends team based in his home country.

What did you say?

In a joint statement, the new owners of Villa said: "As lifelong football fans, we are thrilled and privileged to have become part of this great club, and we believe we have a business and sporting experience together to bring the club together to strengthen and ensure that Aston Villa returns to the top rank of English football.

"Our goal is to bring lasting success to the club on its rich history, respecting its loyal fan base and unique culture. We understand that we are guided on behalf of the fans of Aston Villa and take this responsibility seriously.

"We look forward to working with Dr. Tony to make a thorough assessment and evaluation of the club in the coming weeks and our priority is to strengthen the squads and structures ahead of the upcoming season and beyond." [19659026] Read More

Aston Villa last

Tony Xia says

"It's very very tough two months.

" Nothing changed my love and commitment to AV even though (even) Chinese economic policy greatest difficulty.

"Hope new partnership with Naseef and Wes, we can continue our efforts to bring Villa to where it belongs." [19659003] Xia refers to the strict rules of the Chinese government regarding the capital leaving the country. Xia could not get his money out of China for some time due to strict rules.

In the statement of the association, Xia added, "I am very pleased to have entered into a strategic partnership with Nassef and Wes and we have a common goal to make Aston Villa successful in the future, and I look forward to working together to achieve this goal.

"It was a humbling experience to have come so close to last season. By finding such strong partners as Nassef and Wes, we are preparing to fight back and bring back the success this club deserves, and we all want to offer it to him.

"The future is exciting on a number of fronts I am looking forward to exploring further business collaborations."

What about the sale?

It's unbelievably frustrating, but Villa will still have to sell players to meet financial fair play.

Jack Grealish is the club's most salable asset, so he's likely to leave and James Chester will.

Villa still has to raise around £ 40m to comply with FFP regulations, so player numbers are a must.

Mat Kendrick has all the answers you need:

Finally, what did the club say?

The club released a statement yesterday at 2 pm confirming the takeover.

"Dr Tony Xia and the Aston Villa Football Club announce that NSWE, a joint venture between Nassef Sawiris & # 39; NNS and Wes Edens, is immediately adding significant capital to the club Dr Tony Xia becomes co-chairman and remains on the board.

"The capital injection and the transaction have been approved by the EFL and the parties will process as soon as possible all confirmation approvals required by the EFL. [19659003] "The club's management continues to focus on strengthening the cadre and is fully focused on new investors who support their ambitions.

" Dr. Tony Xia and the club are thrilled and excited about their interactions with Nassef and Wes and their teams, and are confident that as strategic partners, they bring with them exceptional business, sports and leisure expertise that will enhance the club's future prospects. The parties look forward to working in partnership to make Aston Villa a success. "

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