Irish duo funding €94.5m Aston Villa bid

Millionaire Irish property developers Luke and Brian Comer are close to agreeing the takeover of English Premiership football club Aston Villa.

Villa chairman Doug Ellis and the major shareholder Jack Petchey will meet representatives of the brothers' property company Comer Homes Group this week to decide whether to sell their 58 per cent stake in the Premiership club, paving the way for a £64.4 million (€94.5 million) takeover.

The two Galway men are understood to be the driving force behind the five or six strong consortium looking to acquire the oldest league club in English football, which is currently managed by Irishman David O'Leary, and is based in Birmingham.

Mike Neville, chairman of listed Irish exploration group Minmet, is another member of the consortium and is expected to take over the day-to-day running of the football club if a deal is concluded.

The Comer Homes Group, which has assets of £1 billion, has made a bid of 560 pence sterling per share, valuing English football's oldest league club at more than £60 million, although reports that Mr Ellis and Mr Petchey have already accepted the offer are understood to be premature. However, the offer would appear to meet Mr Ellis's valuation of the club, increasing the likelihood that the Villa chairman, whose tenure spans 37 years, will finally agree to relinquish control when the parties convene, possibly on Wednesday.

The consortium is understood to have committed a portion of their company profits into the club annually.

Mr Ellis (81), who owns a 38 per cent stake in Villa, is unlikely to receive much opposition from Mr Petchey. The property dealer has been eager to cash in on his 20 per cent holding in the club.

The Comer brothers, aged 47 and 45, have made a fortune since emigrating to London as plasterers. They have capitalised on converting rundown properties into high-class residential units. They are also involved in the London office market.

Apart from property development, Luke Comer is a well-known horse trainer and breeder. He owns a stud and training stable in Dunboyne, Co Meath. Among those for whom he has trained racehorses is Lady Chryss Goulandris, wife of Sir Anthony O'Reilly.

(Additional reporting: Guardian Service)