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E.T. Fairfax

E.T. Fairfax

Well-Known Member
Jan 4, 2012
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Co. Durham
Didnt realise they were in such deep clarts!

Aston Villa up for sale as struggling club faces winding-up order
Owner Dr Tony Xia attempting to attract new investors and is prepared to offload club altogether, Sky Sports News understands
By Sky Sports News
Last Updated: 06/06/18 9:11am


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Aston Villa face an HMRC winding-up order and have suspended their chief executive
Aston Villa are facing the most important week in their 144-year history as owner Dr Tony Xia fights to keep the club out of the hands of administrators.

A huge investment in players' wages plus more than £70m in transfers in just two seasons leaves the club facing an HMRC winding-up order, with the prospect of administration a real possibility.

Officially, Sky Sports News has been told the club is not for sale, and that Dr Xia's financial problems are the result of cash flow issues in China.


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Xia said after Villa's Championship play-off final defeat to Fulham that the club needs 'to change a lot of things'
However, SSN understands the owner, who has been in China since the play-off final defeat, is attempting to attract new investors to share the burden, and would be prepared to cut his losses and sell the club for the right price.

Despite the club's motto 'Prepared', few could have predicted the speed with which Dr Xia's gamble to reach the Premier League would appear to have come unstuck.

SSN understands the Midlands club have been taking insolvency advice for more than a week, with reports that insolvency expert and former Chelsea CEO Trevor Birch was advising Villa as their financial pressures continued to mount.

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Manager Steve Bruce has said he hopes to remain in charge
The question Villa fans will have is whether Dr Xia has the resolve - and the resources - to continue funding a club that is believed to be costing him around £6m a month to run.

Having suspended the club's chief executive Keith Wyness for issues unrelated to the HMRC notice, the club announced on Tuesday that Dr Xia would take over the day-to-day running of the club, as the real cost of failing to secure promotion is revealed.

Before Villa's tax problems became apparent, it was clear the club would have to undergo a cull of their highest earners to fulfil their Financial Fair Play (FFP) obligations. That would likely start with the sale of key assets, such as England Under-21 midfielder Jack Grealish.

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Star man Jack Grealish is one of the key assets likely to be sold by Villa this summer
In the last three years, the club has spent relatively huge sums on the likes of Ross McCormack (£11.9m), Jonathan Kodjia, (£11 m) and Scott Hogan (£9m).

To date, more than 17,000 Villa supporters have renewed their season tickets for the 2018/19 Championship campaign. The club's biggest fear is that they could start next season in administration and with it, a 12-point deduction.

Following the play-off final defeat to Fulham, Dr Xia told fans the club faced significant pressure to comply with FFP regulations.

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John Terry left Villa after the failure to win promotion straight back to the Premier League
He said: "I am an Aston Villa fan. But I am also a businessman. Under the current circumstances, I think the club needs to rethink not only the past two years but also the past 10 years. Villa needs to be a sustainable football club.

"We have been heavily investing for the past two seasons. However, the loss on Saturday means that we need to change a lot of things."
 
I'm not surprised at this at all.
I said on another thread on here after our relegation was confirmed that those laughing at our plight need to take care as there are clubs up and down the country in the same perilous position as Villa and we where post club take over.
There will be supporters up and down the country now envious of our debt free status when they were laughing their bollocks off at us a few short weeks ago.
As for Villa this couldn't be happening to a better club with the BFG clinging onto his job by his finger nails, a reality check is coming their way big style.
 
Holy Sh1t
That doctor has gambled the future of the club on getting promoted under the guidance of Mr Potato Head - that's a real role of the dice there

Mixed feelings about this one. They've always been there to kick us in the nuts when we've been struggling, but at the same time Villa are a football institution, and I would hate to see them cease to exist.

There needs to be some controls put in place to stop football clubs being run in such a reckless way
 
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Reactions: Mackem-Tiz, clockstander, Nads and 2 others
Wow, that play off final can make or break a club the most valuable game in the world. Fulham will be massive and they will be the next Man c with their owner. How are the Boro doing ? are they similar to Villa.
 
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