Egyptian billionaire acquires stake in English football club

Nassef Sawiris is ranked 251st in the world's rich list. (AFP)
Updated 20 July 2018
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Egyptian billionaire acquires stake in English football club

LONDON: Egyptian billionaire Nassef Sawiris is behind a bid to invest in English football club Aston Villa, the club announced on Friday.
Sawiris is ranked at No.251 in the world’s rich list and is estimated to be worth $4 billion by Forbes. He has joined forces with Wes Edens, the co-owner of NBA’s Milwaukee Bucks, to make a “significant investment” in Villa, the Midlands club who play in the second tier of English football.

They have won the league title seven times and the European Cup in 1982, but have fallen on hards times in recent years, ending a sequence of 105 seasons in the top tier of English football with relegation in 2016.

Villa owner Tony Xia spent the close-season searching for fresh investment to plug a reported £40 million ($52.45 million) deficit after Villa were beaten by Fulham in the Championship playoff final last season.
He had entered talks to hand over some of his control of Villa to Sawiris and Edens' company NSWE in exchange for a cash injection.

“I am extremely pleased to have formed a strategic partnership with Nassef and Wes,” Villa owner Dr. Xia said in a club statement. “We have a common goal of delivering future success for Aston Villa and I look forward to working together to achieve this aim.
“To have come so close to achieving promotion last season was a humbling experience. In finding such strong partners as Nassef and Wes we’re gearing up to fight again and bring back the success that this Club deserves and we all so want to provide it with.”
One of three brothers, Nassef’s family’s net worth is put at $36 billion by Forbes and he is said to be the richest Egyptian in the world. He built his fortune in telecom and has a stake in Adidas.


Al-Hilal win tightens Saudi Pro League title race

Updated 27 min 20 sec ago
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Al-Hilal win tightens Saudi Pro League title race

  • The 3-2 victory over Al-Khaleej leaves Al-Hilal a single point behind Riyadh rivals Al-Nassr, who play on Saturday

DUBAI: The gap at the top of the Saudi Pro League table was cut to just one point on Friday night, following Al-Hilal’s 3-2 win over Al-Khaleej.

Simone Inzaghi’s team leapfrogged Al-Taawoun into second place to remain the closest challengers to Al-Nassr in the title fight, with the leaders set to host Al-Okhdood on Saturday.

Al-Hilal opened the scoring on 18 minutes when Mohammed Kanno met Hamad Al-Yami’s lay-off on the edge of the penalty area, his long-range shot beating Al-Khaleej goalkeeper Anthony Moris at his left-hand post.

Sergej Milinkovic-Savic doubled the lead on 39 from Malcom’s assist to leave the visitors with a mountain to climb in the second half. Al-Hilal looked to have secured all three points comfortably when Malcom made it 3-0 on 57 minutes, but Al-Khaleej had other ideas.

Joshua King’s goal on 79 minutes looked to be nothing more than a consolation, but five minutes later Al-Hilal were left sweating after Giorgos Masouras cut their lead to a single goal. The visitors’ revival was short-lived, however, with no more additions to the score.

The defeat leaves Al-Khaleej in eighth place, with three matches still to be played on Saturday.

Earlier on Friday, Al-Taawoun briefly climbed to second place in the table after an away win against Al-Kholood at Al-Hazem Stadium. Their goals came from Christopher Zambrano after 22 minutes and a William Troost-Ekong’s own goal in the 75th; Al-Taawoun ended the match with 10 men after Muteb Al-Mufarrij was sent off in stoppage time, but the three points were already secured.

Al-Hilal’s win later in the day meant Al-Taawoun dropped to third, while Al-Kholood sit in 12th.

The first match of the day saw Al-Fateh shock reigning Asian champions Al-Ahli with a 2-1 win, after falling behind at home to Valentin Atangana’s 22nd-minute goal. However, the home team turned the match around with two goals from Maria Vargas either side of half time.

The win saw Al-Fateh rise to 14th while Al-Ahli stayed in fourth.