Tuesday 31 of January, 2023
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Egyptian Billionaire Nassef Sawiris Makes Huge Investment in British Football Club

Sawiris and American businessman Wes Edens are moving into the football business.

Staff Writer

Egyptian billionaire, Nassef Sawiris, has joined American businessman, Wes Edens, in making what many are calling 'significant investment' in English football club, Aston Villa, according to BBC sport.

"As lifelong football fans, we are excited and privileged to have become part of this great club," said a joint statement from the two billionaires. "Our goal is to bring sustainable success to the club, building on its rich history while respecting its loyal fan base and unique culture. We understand that we are stewards of Aston Villa on behalf of the fans and we take that responsibility seriously."

Though Aston Villa has a huge following and a rich history, things  aren’t exactly looking rosy for the Birmingham-based club, as they go through a difficult transitional period, after missing out on promotion to England's top league, the Premiership - a failure that will see them miss out on almost £160 million. With the departure of marquee signing, John Terry, and the imminent departure of one of the country's most promising stars, Jack Grealish, as well as the suspension of chief executive, Keith Wyness and firing of director of football, Steve Round, Sawiris' arrival is part of a series of sweeping changes that will also see current chairman, Tony Xia, become co-chairman.

Fans and media have hailed Sawiris and Edens as the 'saviours' of a floundering club; Sawiris is estimated to be worth $6.8 billion, according to Forbes, while Edens is no stranger to sports, as he is co-owner of NBA team, the Milwaukee Bucks.

Sawiris isn't the first Egyptian to own or be heavily invested in an a European football club; Mohamed El Fayed owned Fulham FC between 1997 and 2013, while Hull City FC are currently under the ownership of Assem Allam.

Main image from The National