The floatation of Aston Villa Football Club could be delayed because Eddie George, governor of the Bank of England, has told Mervyn King, the Bank’s chief economist, that he cannot become a non-executive director of the club.
King provisionally accepted an invitation to join the board. George is understood to have told King that there could be a conflict of interest.
Villa plans to raise up to £25m to fund the redevelopment of Villa Park. It wants to turn the stadium, two miles from the centre of Birmingham, into a 50,000 all-seat ground. The second part of the redevelopment, which comprises a new roof and an extra layer of seating costing £12m, will not start at least until the end of the 1997-98 season.
- The Times 01/04/97 page 44
