Wed May 18, 2016 5:48 pm
Chinese businessman agrees £60m deal to buy club
Chinese businessman Dr Tony Xia has agreed to buy relegated Aston Villa for £60m.
The deal, which is subject to Football League approval, will see Xia take 100% ownership, says BBC Sport's Pat Murphy.
American billionaire Randy Lerner, who bought Villa in 2006 for £62.2m, had put the club up for sale in 2014.
The Midlands club's new manager - likely to be either Nigel Pearson or Roberto di Matteo - will not be announced until the deal is done.
Xia needs to pass the relevant owners' and directors' test, and provide proof of finance before formally completing his takeover.
"Randy Lerner's tenure at the club is over," Murphy told BBC Radio 5 live. "The new chairman, Dr Tony Xia, is a prominent businessman and a seriously impressive business leader in China."
Villa will play in the Championship next season following their relegation from the Premier League.
They finished bottom of the table with 17 points, sacking manager Remi Garde at the end of March.
Wed May 18, 2016 5:49 pm
They needed this big time .
Now for us please please.
Wed May 18, 2016 6:40 pm
What color will they play in?
Wed May 18, 2016 7:29 pm
Forever Blue wrote:They needed this big time .
Now for us please please.
Why Annis?
Tan is doing what a chairman should do, making us sustainable and him wiping the debt is unbelievable. The rebrand was a huge mess up to say the least but since the reverse I think he has been spot on.