Lawyer out to gazump Lerner with £70m bid
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Your support makes all the difference.The battle for control of Aston Villa took another twist last night when the London-based lawyer heading the so-called "AV06 consortium" told The Independent his group will be "indefatigable in our efforts to secure the club" from under the nose of the American billionaire Randy Lerner, whose £63m offer has already been recommended to shareholders.
Nicholas Padfield QC, a deputy high court judge, pushed the British credentials of his consortium last night amid speculation that a £70m offer is imminent. "This is by no means over," he said. "We are indefatigable in our efforts to secure the club because we have the club's interests at heart. We are not American, and want to fly the flag."
Asked to clarify that the AV06 board members are worth a reported £10bn, he said: "I'm not prepared to go into details but certainly we have billionaires."
Padfield was last night understood to be locked in talks with one of the other groups vying for control at Villa Park in the hope they could join forces not only to make a blockbusting bid but win popular support for a takeover. Aside from Lerner, other interested parties include Michael Neville, a local businessman, and a group of foreign investors represented by Sven Goran Eriksson's agent, Athole Still.
While Lerner remains in the driving seat because his bid has been formally submitted and recommended, Padfield said last night that "irrevocable undertakings" given to Lerner will become void if another bid of five per cent or more above Lerner's is made. In other words, any bid of more than £66m will be given due consideration and could be as likely to be recommended to shareholders.
Padfield's group hope to table a formal offer sometime next week. It is believed they would guarantee an instant transfer kitty of £30m to Martin O'Neill during the August transfer window. Lerner has promised £50m but not specified when that money is due, or whether it will all be available for spending this summer.
O'Neill will reportedly be offered "the longest managerial contract in the Premiership" if Lerner's takeover goes through. A spokesman for Lerner, chairman of the MBNA credit card company and owner of American football's Cleveland Browns, said the Irishman would be offered a six-year deal. He is currently on a one-year rolling contract.
* O'Neill has yet to decide whether the striker Kevin Phillips will play a part in his plans this season, or return to former club Sunderland, although no bid has been made. "I have not spoken to Sunderland and I just want to assess the squad," O'Neill said. "I think Sunderland have made their interest public but I have not spoken to Kevin yet."
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