Aston Villa Sold To Chinese Company

Randy Lerner has sold Aston Villa to the Recon Group, owned by Chinese businessman Dr Tony Jiantong Xia. The deal is for 100 per cent ownership and will go through subject to approval by the Premier League and Football League. It is understood that the new regime has spoken to Roberto Di Matteo's representatives as their preferred choice as head coach.


It is estimated that Dr Xia will pay between £60m and £70m for the club and the company also want to involve former Tottenham and Liverpool director of football Damien Comolli in the new set-up, but he has yet to be approached. New York-based investor Lerner had the club up for sale since 2014, having originally purchased it 10 years ago.


Recon Group is Dr Xia's privately owned holding company that owns the controlling interest in five publicly-listed companies on the Hong Kong and Chinese stock exchanges and many other private companies employing 35,000 people in 75 countries.


In a  farewell statement on the Aston Villa website, Lerner said “Tony's excitement to develop Villa Park shone through. I remain convinced that this is a crucial part of the club's future as it provides a critical, long-term second source of revenue and therefore sustainability for the club from which squad-funding can potentially come. It is with that that I want to say thank you, and to wish Tony every success going forward”.


Aston Villa were relegated to the Sky Bet Championship after finishing bottom of the Premier League this season.