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England: Aston Villa receive approach to buy club [Tue Sep 20th, 2005]
London (Reuters) - Aston Villa said earlier this week they had received a "preliminary approach" to buy the Premier League club.
Villa's share price soared following weekend media reports that a Russian consortium was about to launch a 60 million-pound (US$108.2 million) takeover bid.
"The board wish to make it clear that the press comment is inaccurate and unfounded," Villa said in a statement to the London stock exchange. "However, the board has received a preliminary approach which could lead to an offer for the company."
Speculation over bids for football clubs has increased in the wake of Russian billionaire Roman Abramovich's takeover of Chelsea two years ago.
The oil tycoon has injected nearly 300 million pounds (US$540.8 million) into the west London club, helping them win the Premier League for the first time in 50 years last season.
More recently American billionaire sports tycoon Malcolm Glazer took control of the world's richest club, Manchester United, in a deal worth almost 800 million pounds.
Villa are 12th in the standings after one win, three draws and two defeats this season under manager David O'Leary.
Octogenarian chairman Doug Ellis, who underwent heart bypass surgery in June, owns around 39 percent of the shares and property developer Jack Petchey around 20 percent.
Villa rejected an offer this month from businessman and former player Ray Ranson.
By midday on Monday, Villa's shares were up over 27 percent at 475p.
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