Aston Villa have been sold to a Chinese
group owned by Dr Tony Jiantong Xia, the Championship club announced on
Wednesday, in a deal worth a reported $86 million.
Villa crashed out of the Premier League
after a miserable season that saw the Midlands team win just three of
their 38 matches, but that hasn’t stopped Dr Xia making his move.
US-based owner Randy Lerner had been
trying to sell Villa for two years and has finally found a buyer after
significantly lowering his asking price to a reported £60 million ($86
million, 76 million euros).
“Aston Villa Football Club is pleased to
announce that an agreement has been signed today for the sale of 100
percent ownership by Randy Lerner to Recon Group owned by Dr Tony
Jiantong Xia subject to the approval of the Premier League and the
Football League,” a Villa statement read.
“Once those approvals have been granted
and the new board members approved under the fit and proper rules of
both leagues, Dr Xia will become Chairman of Aston Villa.”
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