It is unlikely the 45-year-old London-based property developer would be keen on setting up house at Villa Park, and nor could the Midlands club be accurately described as financially troubled, but that has not stopped the millionaire siblings from eyeing it as their next big investment.

They are not the first to run the slide rule over Villa, a club that in business terms is asset-rich and debt-free. Ray Ranson, the former Manchester City defender turned sports financier, has tried vainly several times to loosen the grip of “Deadly” Doug Ellis, the octogenarian chairman. Ranson’s bid, worth £47 million, was not even entertained by Ellis, who owns a majority stake of about 38 per cent, and it was rejected formally in July.

The latest bid, from the Comer consortium, values the club much higher, at about £64 million, or £5.60 a share, which would give Ellis and Jack Petchey, the property speculator who has a 20.1 per cent stake, a healthier profit. The Comers, crucially, appear ready to preserve Ellis’s influence at the club through a nonexecutive directorship while affording him the perks and privileges he deems priceless.

Besides League Cup triumphs in 1994 and 1996, Villa last won anything significant in 1981, when they beat Bayern Munich in the European Cup final. The Comer consortium, fronted by Michael Neville, appears to want to put the club back at the top.

The Solihull-based businessman, who is said to be a lifelong fan, is expected to run the club day to day as executive chairman. He will have the backing of Comer Homes Group, the brothers’ £1 billion property business that would become the club’s parent company. The promise to supporters is for a guaranteed investment pot for team and stadium upgrades of £20 million per season. It is a pledge that should please David O’Leary, the Villa manager, who has blamed the team’s poor run on a lack of transfer funds.

Some fans will remain wary of their motivations, however. As demonstrated by Petchey’s involvement, Villa is a good property investment that has little to do with the football. The net book value of the club’s tangible assets as of May 31 was more than £39 million. The club ended the financial year with net cash of £600,000.

Furthermore, the Comers bear a striking resemblance to John Magnier and J. P. McManus, the Irishmen who made a profit of more than £80 million when they sold their stake in Manchester United to Malcolm Glazer in May.

Like Magnier, Luke Comer is a well-known horse breeder who runs a stud in Dunboyne, Co Meath. He has trained a number of horses owned by the wife of Sir Anthony O’Reilly, the Irish media tycoon.

The London-based Comer brothers have made their fortune from scratch. They have developed a reputation for successfully converting rundown historic buildings into high-end modern accommodation. They are shrewd investors who are not in the business of losing money.

Completion of a takeover may still be some way off, despite a suggestion that the offer could be agreed tomorrow. The club yesterday sought to quell the takeover speculation that pushed the shares up nearly 13 per cent to close at 470p. The price valued Aston Villa at about £54 million.

NOT SO DEADLY? HOW ELLIS COMPARES

ASTON VILLA managers have been allowed 4½ years on average to do their worst, while in Doug Ellis’s two spells at the helm since 1968, 11 managers have departed Villa Park. Ellis, nicknamed Deadly Doug, has dismissed seven of them. His most potent spell was in the mid-1980s when three went in quick
succession and few would argue that Dr Jozef Venglos deserved longer than ten months after Graham Taylor took over England in 1990.

Tommy Docherty (Dec 1968-Jan 1970) Dismissed
Vic Crowe (Jan 1970-May 1974) Dismissed
Tony Barton (Feb 1982-May 1984) Dismissed
Graham Turner (July 1984-Sept 1986) Dismissed
Billy McNeill (Sept 1986-May 1987) Dismissed
Graham Taylor (July 1987-July 1990) Resigned
Dr Jozef Venglos (Aug 1990-May 1991) Dismissed
Ron Atkinson (June 1991-Nov 1994) Dismissed
Brian Little (Nov 1994-Feb 1998) Resigned
John Gregory (Feb 1998-Jan 2002) Dismissed
Graham Taylor (Feb 2002-May 2003) Resigned