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V Sports, the investment holding company owned by Egypt’s richest man Nassef Sawiris, and American billionaire businessman Wes Edens, has announced a reduction in its stake in Vitoria Sport Clube, a Portuguese professional football club.
The move, aimed at complying with UEFA regulations and ensuring the independence of both Vitoria Sport Clube – Futebol, SAD, and Aston Villa FC, was disclosed on the official website of Aston Villa, which Sawiris and Edens also own.
This development follows V Sports’ acquisition of a 46-percent stake in Vitoria Sport Clube just four months ago, in a deal valued at €5.5 million ($5.85 million).
The company has now transferred shares amounting to 17 percent of the club’s total equity back to Vitoria SC, reducing its stake to 29 percent.
As a result of the share transfer, V Sports no longer holds any representation on the board of directors of Vitoria Sport Clube – Futebol, SAD.
The decision was taken to ensure compliance with all UEFA regulations and to maintain the independence of both Vitoria Sport Clube – Futebol, SAD, and Aston Villa FC.
Nassef Sawiris, whose wealth is derived from his stake in Adidas and OCI N.V., a Netherlands-based fertilizer producer, is considered one of Europe’s wealthiest football club owners.
His interests in Aston Villa in England and Vitoria Sport Clube in Portugal have contributed significantly to his fortune. Sawiris’ net worth has increased by $389 million since the beginning of this year, rising from $7.03 billion to $7.41 billion.
The Bloomberg Billionaires Index, which tracks the wealth of the world’s richest individuals, reveals that Sawiris’ stake in Aston Villa alone has appreciated by $13 million since the start of this year, bolstering his overall financial gains.
Presently, Sawiris’ holdings in Aston Villa are valued at an impressive $147 million, marking a notable increase from the initial $134 million valuation earlier this year.
