It appears that recently relegated side, Aston Villa, have decided to sell their club to a Chinese investor.
After underperforming in the English Premier League, and getting relegated to the Championship, it appears that Aston Villa has found themselves a new owner, according to the BBC.
According to the BBC, Chinese businessman, Dr. Tony Xia has offered to buy the relegated club for £60 million, and current owner Randy Lerner will agree to the purchase, considering he has been trying to leave the Midland’s club since 2014.
American billionaire Lerner put the club up for sale two years ago, after spending £62 million to purchase the team a decade ago. Lerner hasn’t had any owners come this far in the process of buying the club and Villa fans have expressed their desire to have Lerner leave the club.
The fee may look small, but Xia will need to spend plenty more than the £60 million he has offered. The club need’s a new manager, a coaching staff and a ton of front office staff members. The BBC also reported that the club is deciding between former Leicester City manager Nigel Pearson and former Chelsea manager Roberto Di Matteo. However, they are unlikely to name either until this sale goes through the Football League approval stage.
Xia will need to hand over proof of purchase of funds before anything get’s decided, and the process could be figured out by the end of the week.
Xia will also need to solve the club’s spending problem, as they paid £55 million on players last summer and will need to re-evaluate their whole squad as they prepare for life in the second division.
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