Aston Villa reportedly bought by Chinese businessman for £60 million

Aston Villa U

"Dr Xia made a decision to buy an iconic football club in England as the cornerstone of his sports, leisure and tourism division".

Aston Villa's Chinese owner Tony Xia has pledged to restore the relegated Premier League club to their former glory as soon as possible.

He also plans to make Villa the most famous football club in China and expand their fan-base in the Far East.

Former Football Association executive Bevington joined the club to review and evaluate the managerial position and playing staff at Villa Park in March.

The Recon Group is a privately owned holding company with controlling stakes in five companies listed on the Hong Kong and Chinese stock exchanges, the Villa website said.

In any event, they are reporting that Roberto has already held talks with Chairman Steve Hollis and has also spoken previously to Randy Lerner about the position, and they suggest a meeting is already lined up next week with Xia himself to potentially finalise the appointment.

It is estimated that Dr Xia will pay between £60m and £70m for the club which New York-based investor Lerner bought 10 years ago and has been trying to sell since 2014.

A Chinese businessman is buying up a storied English soccer team that's fallen on hard times.

A club announcement said the sale, by American businessman Randy Lerner, was subject to clearance by the Premier League and the English Football Association.

Representatives of Xia held discussions in NY following the conclusion of takeover negotiations and are known to be interested in a number of candidates led by Burnley boss Sean Dyche and ex-Liverpool manager Brendan Rodgers. This is because the game of football is rapidly gaining popularity in China for the past couple of years.

"Dr Xia played football as a striker until he finished at college and football has remained his passion".

Though the takeover has yet to be officially ratified, Staunton is hopeful that the new ownership can put a stop to Villa's alarming slide and give supporters reason to be optimistic once again. The club announced Wednesday it would appoint a new manager in the near future.

Giving established players long contracts in the past year, as well as signing 12 new ones last summer to the tune of £55m, means Villa's first-team squad is thought to have 74 years left on contracts.

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