Aston Villa up for sale

  • Last Updated: May 12 2014, 10:37 BST

American owner Randy Lerner has confirmed that he has put Aston Villa up for sale.

In a statement published on the club's website, Lerner said: "I feel that now is the time for me to look for new ownership and thus new leadership.

"Several weeks back I said that following the end of the season I would clarify my future role with the club and address what had become seemingly constant rumours of a sale.

"I owe it to Villa to move on, and look for fresh, invigorated leadership, if in my heart I feel I can no longer do the job.

"I have asked the world of (manager) Paul Lambert and (chief executive) Paul Faulkner and they have both delivered selflessly.

"On a personal level it is time for me to get on with other aspects of my career, following a sale.

"On a practical level, the club will continue with its normal operations and plans for the summer.

"I've no doubt that the core staff at both Villa Park and BMH (Bodymoor Heath Training Ground), to whom I owe a massive debt of friendship and loyalty, will continue to guide and protect the club through this period of transition according to their collective sense of professional pride and long term service to Villa.

"Finally, in light of the above, I have engaged Bank of America Merrill Lynch to advise on the sale of Aston Villa."