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US tycoon Peter Freund ‘ends interest in Aston Villa takeover’

US tycoon Peter Freund ‘ends interest in Aston Villa takeover’

US tycoon Peter Freund has reportedly cooled his interest in a potential takeover of Aston Villa.

By Matthew Jones, Reporter
Filed:

Last Updated: Tuesday, June 12, 2018 at 22:09 UK

New York Yankees shareholder Peter Freund has reportedly ended his interest in a potential takeover of Championship club Aston Villa.

Villa have been threatened with administration following their failure to get promotion to the Premier League as chairman Tony Xia missed out on £200m of prize money, forcing the club to entertain offers for their star players.

Freund was recently linked with a £75m takeover bid, but Birmingham Live claims that he has cooled his interest in the club.

Villa have to raise £40m to oblige to the Financial Fair Play rules while they have a £45m wage bill heading into next season.

Xia purchased the club in 2016 for £76m from ex-owner Randy Lerner.

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