A holding company no!
Exactly the club doesn’t own the ground the shareholders do privately. Aston Villa football club doesn’t own a ground, conceivably they can sell the club, keep the stadium or sell to a third party or level it and turn into an Aldi or apartments, if they wish. Charge the club rent etc.
We have two grounds at the moment, both owned by Everton football club, the second managed by Everton stadium company limited owned by Everton football club - not blue heaven holding - who hold Moshiris Everton shareholding.
Conceivably any majority shareholder can separate the ground from the club - but haven’t - wonder why……it’s toxic ESL stuff, your ownership in an outlier.
A question is to why - you may know more than me - but as you mentioned if administration was a risk - why not just give a shareholder loan to the club and turn into equity - if there was nothing but good intentions or more shares etc….
I mean why would they want the ground if their intentions aren’t beyond question over other ways of giving capital annd getting cash flow into the club.
Also who is paying for the stadium refurb will it be the shareholders privately or Aston Villa football club.
Also be interesting if Villa ever needed to raise finance and not having a ground as an asset.