American billionaire Randy Lerner is poised to take over Aston Villa after the club announced they had accepted the terms of his offer.
Villa made a statement to the Stock Exchange on Monday morning recommending that shareholders accept the bid from Cleveland Browns owner Lerner, which values the club at 62.6million. Lerner's takeover will end the long reign of 82-year-old chairman Doug Ellis, who has run the club since 1982 and also had an earlier spell at the helm.
Ellis said: "It has been my sincere pleasure to have been involved with Aston Villa these many years, both as chairman and as a substantial shareholder. The club has been an enormous and immensely enjoyable part of my life."