Aston Villa’s board comprises three of the club’s stakeholders. Wes Edens and Nassef Sawiris took full ownership in 2019 and sit on the board as Villa’s statutory directors. Sawiris is more involved on the football side, regularly updated by manager Unai Emery’s senior aides, including director of football operations, Damian Vidagany, with Edens based in North America.
In December 2023, V Sports — the ownership group led by Sawiris and Edens — entered into an agreement with investment company Atairos to become a partner, its interest headed by Michael J Angelakis. The relationship meant V Sports would initially continue to own 100 per cent of Villa and remain in control of all club-related decisions, but the deal with Atairos would see it become a minority partner and Angelakis come in alongside Sawiris and Edens.
Shortly after Atairos’ partnership was ratified, four new directors were confirmed on Villa’s board, joining Edens and Sawiris: the Atairos chairman and chief executive Angelakis, its managing director Chester Hall, V Sports director Sarah Watterson and Bashir Lebada, who works closely with Sawiris and had been his eyes and ears on the ground in the UK.
In June 2024, ahead of a difficult summer tussle with profitability and sustainability restrictions (PSR), V Sports appointed Bjorn Schuurmans as a secretary. Schuurmans is a lawyer by trade and has worked in tax and structuring at other companies. He also sits on Villa’s board as another director.
Other, but not statutory, directors include long-standing club secretary Sharon Barnhurst, chief financial officer Richard Cackett, Atairos’ chief operating and financial officer Clare McGrory-Kelly and its general counsel David Caplan. Add Atairos partner and former executive vice-president at U.S. media giant Comcast Alexander Evans and it has five people on Villa’s board. It is fair to say the club are not short of wealthy backers with appetites to invest.
Since the initial agreement, Atairos has increased its shares by injecting capital into Villa, with the company holding a 31.1 per cent stake. Sawiris and Edens each own 34.46 per cent. The £94million ($124m) pumped in back in October 2024 came via Atairos issuing new shares in V Sports. Since then, Atairos’ stake has not changed, but it has provided further funding for the ongoing growth plans for V Sports.
V Sports has developed its multi-club network, acquiring a controlling stake in Spanish third tier side Real-Union and Portuguese club Vitoria, with whom Villa held discussions over the summer about establishing a closer relationship. Other partnerships include with Vissel Kobe in Japan, Columbus Crew in MLS and French second-tier club FC Annecy. The _New York Times_ revealed in May that V Sports was set to acquire a controlling stake in the latter.
In the first six years since Sawiris and Edens bought Villa, the club booked combined pre-tax losses of £411.4million. In that time, only Everton (£553.3m) lost more among English clubs. While the bulk of expenditure under Sawiris and Edens had gone on players, in their first six years they also spent £69.4m on infrastructure. Since then, new projects have formed around Villa Park, including the rebuild of the North Stand and The Warehouse, a purpose-built entertainment venue situated just outside the stadium.
All of this aims to increase revenue to bring Villa in line with the traditional big clubs in England and across Europe, therefore investing in the short term to bring about results and a financially sound footing longer term. These decisions are discussed and agreed upon with the board of directors.
Angelakis is the silent third owner of Villa’s ownership group. He tends not to speak publicly.
On July 7 this year, a V Sports filing at Companies House showed a ‘cessation of persons with significant control.’ When asked by _The Athletic_, sources from all parties were insistent that there were no changes in the shareholdings, and this was more to do with a wider corporate restructure regarding the funding of the North Stand build. Angelakis, Sawiris and Edens remain the persons of significant control.
Angelakis is a powerful figure. As a key board member, he helps oversee the direction of V Sports, both from a financial and strategic viewpoint. He, alongside the wider company, wished to be involved in Villa due to several appealing factors, including their “rich history, loyal fanbase and world-class management team”, as one source close to Atairos says, speaking on the condition of anonymity.
Angelakis founded Atairos in 2016 with $4.1billion in initial capital. Formerly vice-chairman and chief financial officer at Comcast, a large provider of cable television, internet and media in America and beyond, he created Atairos to become a global investment company, providing long-term capital for businesses viewed as having scope for high potential growth. Since its inception, Atairos has provided over $6.5bn in equity capital and has offices in New York City and Philadelphia.
Its wealth means Atairos can offer support over a number of years and be patient in its partnerships, not requiring an immediate return on investment. This is appealing to multiple partners, such as Villa, who are running at a loss to become sustainable over the long run.
While more distant than the other two owners, Angelakis is a wealthy, well-connected figure who has allowed V Sports and, in turn, Villa, to open up the portfolio and patiently invest in infrastructural projects that hope to reap what they sow in the longer term.