Nick Mashiter: Paul Faulkner's Villa departure leaves more questions

The chairman's statement on Monday – which underlined no buyer is in place – at the very least ended immediate speculation, because it did little else.

And yesterday, just 24 hours later, the club announced chief executive Paul Faulkner had left the club.

Quite why Faulkner has left now is unclear. Within a statement of business jargon came the reason that: "Having discussed his re-engaging with the chairman's broader business while remaining involved with Villa in a non-operational role, agreement could not be reached."

We live in multi-cultural society and sometimes it would be nice to see things in plain English, but then many of us have learned the word Shunammite from Lerner this year. Every cloud.

Many would have expected Faulkner to stay on, at least until a takeover was imminent, so the timing of his departure is a surprise.

It is not linked to a buyout which leaves the situation open to future debate. Nothing is close but is a change so far away Villa can afford to part ways with Faulkner and appoint a new CEO?

It only adds to the fear the club continues to tread water, struggling to shake the limbo which has engulfed them.

Three years of relegation battles have seen Faulkner become a scapegoat for the Lerner regime.

No-one had any issues when Villa were reaching Cup finals and challenging for Europe but as the troubles grew so did the spotlight.

He is a decent and honest man who was always well-intentioned and his exit only serves to add to the uncertainty, not ease it.

Robin Russell, chief financial officer, has stepped in to try to achieve continuity and the day-to-day running of the club is unlikely to be affected.

Villa insist it is business as usual – presumably because they have got used to a certain level of upheaval.

They remain calm as all around them are losing their heads as, outside, there is serious concern over the club's stability.

Assistant manager Ian Culverhouse and head of football operations Gary Karsa left in May, sacked for alleged bullying.

There is little room for manoeuvre for manager Paul Lambert in the transfer market, as he again relies on free transfers and bargain buys.

And now an ally in Faulkner has left there must be a degree of sympathy for Lambert because he did not sign up for this.

He has had his back to the wall for the most of his reign and while he has not covered himself in glory – in both results and his often prickly demeanour – he is constantly fighting fires.

Now he has to prepare a squad amid the backdrop of uncertainty off the pitch.

It was churlish for anyone to expect Villa to have been sold by now. 'Rich in the morning' chanted the fans during that ghastly final-day defeat at Tottenham, chance would be a fine thing.

It will take between £150m and £200m to buy the claret and blues and that is just for the fixtures and fittings.

The team itself would need massive investment to compete at the top again and that is a whole new level of buyer.

No new owner will want to buy a club without the necessary capital to take it forward and only the top level of investor has that kind of money.

After Christian Benteke, Ron Vlaar, Brad Guzan and Fabian Delph there is a lack of serious Premier League quality – Gabby Agbonlahor included.

The team would need a complete reboot and that means throwing cash at it, a future owner would know that.

Villa were for sale long before Lerner's public declaration in May and that should underline the issues they face.

While they are a Premier League club – and that alone will attract a modicum of interest – a level of realism must be accepted.

Newcastle and Everton have been constantly for sale for a number of years and Mike Ashley and Bill Kenwright have so far failed to sell.

Historically the teams match up to Villa but who would you rather buy?

The upwardly mobile Toffees under Roberto Martinez? Even the soap-opera style Magpies are more attractive than Villa, who are turning into perennial strugglers.

The claret and blues are third on that list and that they are in this position is their own fault. They are still paying the price for overspending and failing to reach the Champions League under Martin O'Neill.

Patience is key – although even asking Villa fans for that is a stretch as their tolerance over the situation wears thin.

It has not been helped by the murmurings made by Lerner. The clamour for him to speak is intense but when he does it is waffled business-speak which leaves the man on the street alienated.

No-one is expecting state secrets and he is not the only Premier League chairman to shy away from the public but that promised clarity is eagerly-awaited.

The bright new dawn which many hoped to be around the corner is still yet to rise with Lerner struggling to find the quick sale he desired.

Many wanted Faulkner to leave with Lerner and they have got half of their wish. The other half may be a long time coming.