Fortress Investment Group co-founder, Wes Edens has joined forces with Egyptian billionaire Nassef Sawiris to purchase a large majority stake in the English soccer team known Aston villa. This comes at a time when the team missed the premier league when it came to last season. It was back in 2016 when Tony Xia owned the club through a purchase and became the co-chairman. In a statement, the new buyers announced he will stay on the board. NSWE, is a group formed by Wes Edens and Sawiris. The deal consists of 55 percent ownership that’s worth about 30 million pounds.
It’s no secret that most of the English teams have been snapped up and purchased to many wealthy foreign buyers throughout the years. Russian billionaire Roman Abramovich, bought Chelsea while Manchester United and Liverpool was snatched up by the Boston red Sox baseball team owners. Aston Villa fell out of the top-ranked premier league back in 2016. They now play competitive soccer in whats called the second-tier championship division. They’ve spent a lot of money getting new players in hopes of getting back into the premier league. Unfortunately, Fulham football club beat them in the championship final.
Xia states that it was a humbling experience to come so close to promotion in the last season. Now with a great partner such as Wes Edens and Nassef, Xia continues that they are ready for the fight and want to restore the success the club experienced and deserves. It was considered a fall from grace when the team missed out on joining the top league. Especially since they were the winners of the European cup back in 1982.
Sawiris is estimated to be worth 6.9 billion regarding the Bloomberg’s billionaires index. He has many high stakes investments such as Adidas AG, nitrogen fertilizer company OCI NV and a cement firm. He runs all three along with his staff. A few of his businesses are nestled into a investment vehicle called in NNS holding. Wes Edens, an American businessman and well-known private equity investor, is also the co-founder of the Milwaukee bucks. Nassef Sawiris and Wes Edens buy Aston Villa controlling stake