Former chairman Doug Ellis, 82, has stepped down from the position he has held for most of the past 38 years, along with four other directors from his board. Lerner needs to control 90 per cent of the shares before he can compulsorily purchase the remaining ten per cent. In the statement, Villa confirmed that Ellis, whose association with the club dates back to 1968, would become the team's honorary president.
Villa's statement to the Stock Exchange said: "Aston Villa is pleased to announce the appointment of Randolph Lerner as chairman and General Charles C Krulak (formerly Commendant of the Marine Corps), Bob Kain and Michael Martin as new non-executive directors. The appointments are effective from today." Lerner, 44, is owner of the NFL American football team the Cleveland Browns and although he has admitted it was "never a lifelong dream" to own Aston Villa, now he does, he wants to make them one of England's top sides again.
It means the end for Ellis, who was chairman from 1968-75, returning in 1982. Ironically, Villa's greatest successes since winning a league and FA Cup double in 1897 came without Ellis's stewardship; in 1981 they claimed the English title, and in 1982 they lifted the European Cup.