Takeover sets up O'Neill for makeover
Randy Lerner's takeover of Villa is expected to trigger a mini transfer revolution at Villa Park.The American billionaire became the majority shareholder overnight after purchasing 59.69 per cent of the club's shares.
Lerner still needs to acquire 75 per cent of the club's shares for the £62.6m deal to be recognised by the Stock Exchange as a takeover.
Once he gets to 90 per cent he can force a compulsory purchase of the remaining 10 per cent. But the deal won't be complete until September 4 at the earliest, the deadline for shareholders to vote.
But as majority shareholder, the 44-year-old can start investing in the team now.
Any money spent on strengthening the squad is only going to increase the share price from the 547 pence deal accepted by the board, earning Lerner immediate dividends.
And with six days to go before the closure of the August transfer window, the chances are he will swell Martin O'Neill's £5m transfer kitty.
Lerner is not expected to inspire an Abramovich-style spending spree, but after meeting O'Neill several times, the Cleveland Browns owner is believed to be ready to open the purse strings, possibly to the tune of £10m immediately.
Lerner's advisor Keith Harris said: "We would expect in the next week for other shareholders to follow suit and then there might be good news."
"From the fans' point of view, they have welcomed him (Lerner)," Harris added. "The Villa fans want change.
"Randy has inherited a club without borrowing huge sums of money which would be needed to service a debt."
The takeover could allow O'Neill to complete the signings of midfielders Stilian Petrov and Thomas Gravesen from Celtic and Real Madrid respectively.
Portsmouth are ready to outbid Villa for Petrov, but the Bulgarian international wants to link up with O'Neill again.
O'Neill also wants a striker and a right winger, with Newcastle's James Milner tipped to return to Villa Park where he spent a season on loan last season.
