Aston Villa’s financial problems could soon be at an end, with reports of a Middle Eastern takeover gathering momentum.
As per reports on Friday morning, Villa are in advanced negotiations over a deal which would see current owner Tony Xia agree to a full sale of the financially-struggling club.
#avfc in advanced negotiations with a Middle East consortium, believed to be from Egypt. Understand Dr Tony Xia is close to agreeing a full sale
— John Percy (@JPercyTelegraph) July 20, 2018
Villa were plunged into financial crisis earlier this summer when it was revealed that they had been hit with a £4.2m tax bill, as well as reports that high-earners such as the now-departed John Terry were still owed outstanding wages as well as the need to seriously cut back to avoid being hit by Financial Fair Play rules.
Such are the money issues currently enshrouding the club that new signings are out of the question, with some of the more pessimistic sources claiming that even loan deals would be a tall order to get over the line under the current regime.
It has also led to the suggestion of player sales, though the club so far have remained steadfast and are holding out for acceptable offers for the likes of James Chester and Jack Grealish.
Should the takeover be finalised, it remains to be seen how that would affect player sales (though the likelihood remains that Grealish would still go to Tottenham, albeit for a higher fee), while the future of manager Steve Bruce could also be up in the air with reports during the week suggesting that the new owners be looking at Arsenal legend and current Belgium assistant boss Thierry Henry to take the reins.
Xia purchased the club for £76m in 2016 with promotion his immediate aim, but failure to get back into the Premier League in the past two seasons has taken its toll on Villa’s finances, with the gamble backfiring to almost fatal effect.