Aston Villa owner Tony Xia nearing deal to solve cash crisis
Aston Villa owner Tony Xia is reportedly nearing a deal which would see him give up control of the club.
As reported in the Express & Star earlier this week, Xia has reluctantly accepted he must face up to a significant move towards a change of ownership, and was back in the UK to sort out the problems engulfing the club.
The outspoken owner is reportedly close to securing investment from a Middle East consortium.
Villa have been edging closer to another cash crisis recently, with bills for this month still needing to be paid – and with Xia searching for a cash investment.
The sale of one of the club's prized assets in Jack Grealish or James Chester would have helped solve the situation in the short-term, but Villa have yet to accept a bid for either player.
It is understood Xia has received a number of offers since the problems at the club were initially reported, ranging from a full buyout to a cash injection from the sale of a minority stake.
Villa have been in limbo since their failure to secure promotion to the Premier League via the play-offs, with Keith Wyness and Steve Round both leaving and Steve Bruce admitting that player sales are needed to meet FFP guidelines.
So far, Villa have seen John Terry, Chris Samba, Gabriel Agbonlahor and Pierluigi Gollini leave the club, reducing the wage bill. They are yet to sign any players this summer.
