Billionaires make 'significant investment' into Aston Villa

Company NSWE, which is jointly owned and controlled by the pair, have injected 'significant investment capital' into the club – thought to be between £30million and £35million.

It is understood NSWE have taken a 55 per cent stake in the club, with the option to assume full control at a later time.

As part of the deal, Tony Xia will become co-chairman and remain on the board.

Sawiris is worth $6.8billion, according to Forbes. Edens is reported to have sold a firm he co-founded, Fortress Investment Group, for $3.3billion earlier this year.

Sawiris and Edens said in a joint statement: "As lifelong football fans, we are excited and privileged to have become part of this great club.

"We believe that together we bring business and sports experience that will help strengthen the club to ensure Aston Villa can return to its rightful place in the upper echelons of English football.

"Our goal is to bring sustainable success to the club, building on its rich history while respecting its loyal fan base and unique culture.

"We understand that we are stewards of Aston Villa on behalf of the fans and we take that responsibility seriously.

“We look forward to working with Dr Tony to undertake a thorough assessment and evaluation of the club in the coming weeks and our priority is to strengthen the squads and structures ahead of the upcoming season and beyond.”

Villa say the 'capital injection and transaction have been approved by the EFL' and that they will work through 'all confirmatory approvals required by the EFL as soon as possible'.

The club also stressed the management team, led by Steve Bruce, are focused on 'strengthening the squad'.

Xia added: "I am extremely pleased to have formed a strategic partnership with Nassef and Wes. We have a common goal of delivering future success for Aston Villa and I look forward to working together to achieve this aim.

“To have come so close to achieving promotion last season was a humbling experience. In finding such strong partners as Nassef and Wes we’re gearing up to fight again and bring back the success that this club deserves and we all so want to provide it with.

“The future is exciting on a number of fronts and I look forward to exploring further business collaborations.”