Foreign ownership of Premier League clubs

Author: 
REUTERS
Publication Date: 
Tue, 2011-04-12 22:40

American sports tycoon Stan Kroenke agreed a takeover deal
on Monday that valued the north London club at 731 million pounds ($1.20
billion).
Kroenke, who already owned close to 30 percent of the club,
now controls 63 percent after reaching a deal to buy out shareholders Danny
Fiszman and Nina Bracewell-Smith.
Kroenke, 63, was worth $2.9 billion in 2010 according to
Forbes and already owns several U.S. sports teams, including the NBA's Denver
Nuggets, the NHL's Colorado Avalanche, NFL team the St Louis Rams, and Major
League Soccer team the Colorado Rapids.
American billionaire Randy Lerner completed his takeover of
Aston Villa in 2006 for 62.6 million pounds ($122.5 million) after securing the
required 90 percent of the Birmingham club's shares.
The Cleveland Browns owner installed himself as chairman of
Villa, taking the place of Doug Ellis who stepped down after 38 years at the
Midlands side.
: Hong Kong businessman Carson Yeung's Grandtop International
Holdings finally completed its takeover of Birmingham City in 2009 after
initially launching a bid two years previously.
Indian poultry giant Venky's completed a 23 million pound
takeover of Blackburn Rovers in November, 2010.
They became the first Indian concern to own a Premier League
club, and quickly stamped their mark on the club by sacking manager Sam
Allardyce in December.
In July 2003 Russian businessman Roman Abramovich agreed to
buy the company that owned Chelsea in a deal which valued it at nearly 60
million pounds ($99.50 million).
Under the cash offer, Abramovich, through his English offer
vehicle Chelsea Ltd, agreed to purchase 84.9 million Chelsea Village shares at
35 pence each, just over half of its entire issued share capital.
Abramovich has spent millions on the club since 2003 and has
been rewarded with Chelsea winning Premier League titles and domestic cups.
In 1997 Egyptian-born businessman Mohamed Al Fayed, then
owner of top London department store Harrods, invested 30 million pounds ($49
million) in Fulham and took over as chairman after agreeing to acquire a
controlling stake.
With his financial backing Fulham repurchased the freehold
to their historic Craven Cottage stadium on the banks of the river Thames in
west London for an estimated 7.5 million pounds, while on the pitch they were
promoted to the top-flight in 2001.
The New England Sports Ventures, headed by American
businessman John W Henry, completed a protracted and controversial 300 million
pound ($480.8 million) takeover of Liverpool in October 2010.
Former American co-owners Tom Hicks and George Gillett
fought a lengthy court battle to prevent the takeover going through before
eventually accepting defeat when a Dallas Court lifted a restraining order
blocking the deal.
The new owners sacked manager Roy Hodgson in January and
appointed former player and fans' favourite Kenny Dalglish.
An Abu Dhabi based consortium fronted by Sheikh Mansour bin
Zayed Al-Nahyan completed a takeover of Manchester City from Thai premier
Thaksin Shinawatra in September 2008.
The deal instantly transformed them into the richest club in
the world and Sheikh Mansour has since spent more than 300 million pounds on
big name signings.
In August 2005, supporters were unhappy with the American
tycoon Malcolm Glazer's 790 million pounds ($1.41 billion) takeover and used
the first home game where his sons Joel, Avi and Bryan, all board members, were
in attendance, to make their voices heard.
US financier Malcolm Glazer said he had raised his stake in
Manchester United to over 75 percent, finally gaining full control in May 2005
of the club he had battled to acquire for more than two years.
The club's sale prompted some disenchanted fans to set up FC
United of Manchester which plays in the minor leagues.
American businessman Ellis Short assumed complete control of
the club in May 2009, after initially becoming their largest shareholder in
2006.
Short, who made his fortune in private equity and hedge fund
management, quickly made his mark at Sunderland, tempting manager Steve Bruce
to Weirside from Wigan Athletic.

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