Randy Lerner
Randy Lerner | |
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MBNA Corporation | |
Children | 4 |
Parent(s) | Al Lerner Norma Wolkoff |
Randolph David Lerner (born February 21, 1962) is an American billionaire investor and former sports-team owner. He became the majority owner of the American football team, the Cleveland Browns, of the National Football League (NFL), upon the death of his father Alfred "Al" Lerner in October 2002. In August 2012, he sold the team. Lerner became the owner and chairman of English club Aston Villa F.C. of the Premier League in 2006, subsequently Lerner sold the club at a loss in 2016 following their relegation. His personal fortune has been estimated at over US$ 1.1 billion.[1]
Early life and education
Lerner was born to a Jewish family
Business career
Lerner began working as an
His father,
Sports team ownership
Cleveland Browns
When his father, Al Lerner, died in October 2002 – four years to the day after he was awarded the new Browns franchise - the ownership of the team passed on to Lerner. Lerner served as a member of the National Football League's Business Ventures Committee. In 2012, Lerner sold the team to businessman Jimmy Haslam.[6][7]
Aston Villa F.C.
During his time at Cambridge, Lerner followed English football, taking an interest in three teams: Arsenal, Fulham and Aston Villa. Although he had grown up in the United States, with a father who had been involved with the Cleveland Browns franchise under Art Modell, Lerner's interest in English top flight football endured long after he had returned to the United States.
In July 2006, it was reported that Lerner intended to purchase Premier League club Aston Villa, following a statement from Cleveland Browns management indicating that Lerner was pursuing "business interests" in the United Kingdom. Lerner pulled out of the bid to buy Aston Villa two days later after talks with club chairman Doug Ellis broke down, but the following day, reports emerged that Lerner was still considering a formal £64m bid for the club.[citation needed]
The BBC reported in September 2006 that Lerner had moved closer to taking full control of the club, after increasing his share to 85.5%.[8]
By the time that the deadline passed in September 2006, Lerner had secured the acceptance of 89.69% of the shareholders. Due to the acceptance only being 0.31% below the conditional limit, Lerner accepted it and made the bid unconditional. On September 19, 2006, Aston Villa PLC executive chairman
In June 2011, Lerner appointed manager
In February 2012, the club announced a financial loss of £53.9 million.[11] Lerner put the club up for sale on May 12, 2014, with an estimated value of £200 million.[12]
Lambert was sacked on February 11, 2015
In April 2016, two members of Villa's board of directors, former
In May 2016, Lerner sold Aston Villa to Chinese businessman
Philanthropy
Lerner has supported the UK's
For the 2008/2009 and 2009/2010 seasons, Aston Villa forwent traditional shirt sponsorship by instead wearing on their shirts the name of a local children's hospice, Acorns. For the 2010/2011 season, this sponsor was replaced by corporate sponsor FxPro, but the club continued to promote Acorns on all children's kits as the club's official charity partner.[23]
Lerner is an alumnus and major benefactor to Clare College, Cambridge and was honored in 2008 with a namesake space called "Lerner Court".[24]
Personal life
Lerner has a house in
References
- ^ "#1694 Randolph Lerner : Net Worth As of 28 February 2020", Forbes
- ^ Matt DeFaveri (August 2, 2012). "Browns' Jewish ownership going, going, gone".
- ^ "Alfred Lerner '55: Businessman, Philanthropist, Student Center Benefactor". Columbia College Today. January 2003. Retrieved August 27, 2021.
- ^ "The Guardian Profile: Randy Lerner". the Guardian. March 7, 2008. Retrieved August 27, 2021.
- ^ "Rich List 2013: No.5 - Randy Lerner (£1.1bn)". BusinessLive. June 3, 2013. Retrieved April 17, 2024.
- NFLwebsite, August 2, 2012
- ^ "Browns’ Jewish ownership going, going, gone" by Matt DeFaveri, Cleveland Jewish News, August 2, 2012
- ^ "Lerner closer to control of Villa". Article on BBC Sport. September 5, 2006. Retrieved September 5, 2006.
- ^ "Alex McLeish sacked as Aston Villa manager". BBC Sport. BBC. May 14, 2012. Retrieved May 14, 2012.
- ^ "Aston Villa appoint Paul Lambert as new manager". BBC Sport. BBC. July 2, 2012. Retrieved December 29, 2013.
- ^ "Aston Villa announce £53.9m loss for 2010–11 financial year". BBC Sport. February 28, 2012. Retrieved March 19, 2012.
- ^ "Aston Villa: Owner Randy Lerner puts club up for sale". BBC Sport. May 12, 2014. Retrieved July 24, 2014.
- ^ "Aston Villa: Paul Lambert sacked as manager". BBC Sport. February 11, 2015. Retrieved February 11, 2015.
- ^ "Tim Sherwood appointed new Aston Villa boss". BBC Sport. February 14, 2015. Retrieved May 3, 2015.
- ^ "Sherwood relief as Villa stay up despite Saints mauling". Reuters. May 16, 2015. Retrieved May 17, 2015.
- ^ "Tim Sherwood: Aston Villa are FA Cup final underdogs". BBC Sport. April 19, 2015. Retrieved May 17, 2015.
- ^ Percy, John (October 25, 2015). "Tim Sherwood sacked as Aston Villa owner Randy Lerner runs out of patience with beleagured [sic] manager". Telegraph.co.uk. Retrieved October 29, 2015.
- ^ "Remi Garde: Aston Villa confirm ex-Lyon boss as manager". BBC Sport. November 2, 2015. Retrieved November 2, 2015.
- ^ "Remi Garde: Aston Villa manager leaves after 147 days in charge", BBC Sport, March 29, 2016
- ^ "David Bernstein and Lord King resign from Aston Villa board", BBC Sport, April 18, 2016
- ^ a b "Aston Villa: David Bernstein and Lord King left after Randy Lerner row", BBC Sport, April 20, 2016
- ^ "Football Boss gives gallery £5m". BBC News. January 23, 2008. Retrieved January 23, 2008.
- ^ "Aston Villa juniors keep the flag flying for Acorns". Birmingham Mail. Retrieved January 21, 2015.
- ^ "Clare College - Memorial Court". Retrieved March 17, 2020.
- ^ Ian Ratner (December 15, 2010). "Curbed Hamptons". Hamptons.com. Retrieved November 28, 2011.
- ^ Margolis, Matthew (June 27, 2011). "Report: Cleveland Browns Owner A Frequent Flier". East Hampton, NY Patch. Retrieved November 28, 2011.
- ^ Bufalino, Jamie (August 15, 2019). "Violation of Trust on Amagansett Land". East Hampton Star. Retrieved August 24, 2019.