The NBA franchise owner, Wes Edens has recently taken a majority stake in one of the most historic English soccer teams still playing the sport. Aston Villa Football Club was founding members of the English Football League and the Premier League before falling out of the Premier League at the end of the 2015-16 season. Edens and his sporting business partner, Nassef Sawiris have come together to pay around $39 million for a 55 percent stake in the Championship club following reports of cash-flow issues affecting co-Chairman Dr. Tony Xia.
Wes Edens made his fortune in the financial sector with a period of success beginning in 1993 with his first role with Lehman Brothers. Quickly moving on to Blackrock Financial Management as a Managing Partner, by 1998, Edens had established his own Fortress Investments brand. In less than two decades, Fortress Investments had built a portfolio of investments and assets totaling an estimated $3.5 billion.
For more information about Wes Edens, visit his crunchbase profile
The sporting arena has always been of interest for Wes Edens and allowed him the chance to provide funding for a range of winter sports, including that of skiing he took part in as a youth. Alongside his backing of the U.S. ski team, Edens has become a popular figure in the NBA for his work with the Milwaukee Bucks, which tends to bode well for the success Aston Villa could enjoy in the coming years.
Despite the current plight of Aston Villa, the team has a long history of success in English and European soccer competitions which shows the success the Birmingham-based club can achieve. Although the recent history of Aston Villa under the previous owner, U.S. business leader and Cleveland Browns owner Randy Lerner has been chequered the team was European champions in 1982. One area which fans may be hoping for a turnaround is in the development of the Villa Park Stadium Aston Villa have used as their home since 1887. Wes Edens has developed the Milwaukee Bucks stadium in just four years since taking over as the owner of the team.