Stigma of failure at Aston Villa ‘may explain Tony Xia clinging on’

Embattled owner Xia is facing a crucial few days in his battle against the cash crisis which brought the club to the brink of administration earlier this month.

Villa came within hours of being hit with a winding-up order by HMRC after missing a tax payment, and it remains unclear whether Xia can raise sufficient funds to pay the next round of bills, due at the end of the month.

Xia is thought to have spent the past fortnight in Beijing seeking an investor to come in and help steady the ship.

The owner, who paid Randy Lerner £76.2million to purchase Villa two years ago, is determined to retain overall control. It is understood Xia rejected the suggestion of former chief executive Keith Wyness the club be placed in administration.

Wyness was subsequently suspended and is now threatening legal action against the club.

Paul Bennett, a senior partner at Black Country-based law firm George Green, believes there may be a cultural factor in Xia’s determination to cling on.

“No-one likes to see a business go into administration but it happens,” said Bennett, who worked on a fan takeover at Port Vale.

“Sometimes you have to take a step backwards in order to take a step forwards.

“Yet in China, there is a far greater stigma associated with failure. It would be hugely embarrassing for Xia and damaging to his reputation. You have to wonder to what extent there is a sense of denial?”

Villa’s hopes of generating a bidding war for Jack Grealish have, meanwhile, suffered a blow as Leicester close in on Norwich’s James Maddison.

The 21-year-old’s signing is expected to end the Foxes’ interest in Grealish, who Villa are likely to sell to help balance the books.

Tottenham are expected to bid £15million for the 22-year-old but Villa are hoping to sell for nearly twice that much.