Wes Edens-The American Entrepreneur Investing In Aston Villa Football Club
The name Wes Edens is no longer popular in the sector of entrepreneurship alone. The 56-year-old American businessman has made his ways into the spotlight as a sports owner as well. He is well known for his roles at Fortress Investment Group (a leading alternative asset management firm), and his recent interest is investing in the English team Aston Villa. The English team announced the news of an agreement between the club, Edens, and Egypt’s billionaire Nassef Sawiris in a deal that would see the two investors inject handsome sums of money to boost the club.
The investment by Nassef and Wes Edens (who still serves in Fortress Group) will pull Aston Villa out of its financial struggle. This struggle emanated from relegation of the team from the EPL in 2016. Since then, the club has been recording financial losses – first, £80.7 million in 2016 followed by £14.5 million by April 2017. Edens is not a novice sports investor either. He currently co-owns the Milwaukee Bucks, a team he purchased jointly with Marc Lasry in 2014.
In his two decades at Fortress Investment Group, Wes Edens has helped the firm grow to become a leading force in the asset management world. He co-founded the company alongside Rob Kauffman and Randal Nardone, and they became principals of the group. When Kauffman retired from his position in 2012, Nardone, Briger, and Edens continue serving as Principals – even after the acquisition of the group by Japanese Softbank in 2017.
While founding the company, Edens and co. invested 400 million USD in asset management. Within half a decade, the value had grown to nearly $4 billion, and over 43 billion USD in two decades. As the Chairman of Fortress Board, Wes Edens spearheaded the 3.3 billion dollar purchase of Fortress by Softbank Group but remains a Principal at the firm alongside Briger Jr. and Nardone.
Another venture by Edens is in the transportation industry, where he owns Brightline. The rail system has unique features; notably, it is the only US privately-owned rail system for passenger transports. It is also a high-speed train and connects West Palm Beach and Miami, but might be positioning to open other stations. Billionaire Nassef Sawiris And Wes Edens To Buy Significant Stake In Aston Villa