"Now is the time for me to look for new ownership and thus new leadership," said Lerner, who bought the club in 2006.
Owner Randy Lerner is seeking a buyer for English Premier League soccer club Aston Villa, the American said in a statement on Monday.
"Now is the time for me to look for new ownership and thus new leadership," said Lerner, who bought the club in 2006, adding that Bank of America Merrill Lynch had been hired to advise on the sale.
Villa, based in the city of Birmingham. finished 15th in the 20-team Premier League after the final round of matches on Sunday.
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