Randy Lerner agrees £62.6m Aston Villa takeover as Ellis era ends

American businessman Randy Lerner, owner of the Cleveland Browns American football team, has agreed a £62.6 million deal to take over Aston Villa, ending Doug Ellis's long reign at the club.

The agreement was confirmed on 14 August, just days after Martin O'Neill was unveiled as the club's new manager.

The end of the Ellis era

Ellis, who is 82, has been chairman for 23 years and is the club's biggest single shareholder, with around 38 per cent of the shares. He has decided to sell because of ill-health.

Ellis first became chairman in December 1968, when the club was in crisis at the bottom of the Second Division, and has been a dominant figure at Villa Park for much of the time since.

In recent years, though, frustration has grown among supporters and players over a lack of investment. In July, a group of Villa players publicly criticised what they described as a lack of ambition at the club.

A new manager

At a press conference on 4 August, Ellis introduced Martin O'Neill as Villa's new manager, following the departure of David O'Leary in acrimonious circumstances earlier in the summer.

O'Neill, who won trophies with Leicester City and Celtic, was given a rapturous reception by supporters, and his arrival has raised hopes of a revival.

A new owner

Lerner's takeover is expected to bring significant investment. He will need to secure the backing of shareholders to complete the deal and take full control of the club.

Supporters hope his arrival, together with O'Neill's, will mark the start of a new period of optimism at Villa Park, after years in which the club has drifted in mid-table.

A club with a proud history

Aston Villa are one of the most successful clubs in English football. They were founder members of the Football League and of the Premier League, have won the league title seven times, and famously won the European Cup in 1982, beating Bayern Munich 1-0 in Rotterdam.

In 2000 they reached the FA Cup final for the first time since 1957, losing 1-0 to Chelsea in the last game played at the old Wembley Stadium.

The new owner arrives with the season about to begin, and with O'Neill already working to strengthen the squad.

The club has had its ups and downs. Under Ron Saunders, Villa won the league title in 1980-81, but in 1970 they had been relegated to the Third Division for the only time in their history.

Supporters will now be waiting to see how much Lerner is prepared to invest, both in new players and in Villa Park itself.