Aston Villa enter crucial days in battle with cash crisis
Villa have entered a vital few days in their battle against a cash crisis as owner Tony Xia ponders several offers of investment.
The club’s financial health is set to be tested by a series of incoming bills, though it is understood the club are confident of paying their latest tax bill of around £4million, which was due on Friday.
Villa narrowly avoided being hit with a winding-up order by HMRC after missing last month’s payment.
Xia is thought to have provided sufficient funds to pay the latest bill and June's payroll, though Villa still face a number of liabilities in the coming weeks, including around £11million in transfer instalments owed to other clubs.
The owner, who has struggled to effectively fund the club since last August, has been sourcing outside investment and has lifted the restriction on the sale of shares.
It is understood one group has approached Xia and offered to purchase a controlling stake in the club for around £40million.
Other deals are also on the table and Xia, who would ideally like to retain control and see a return on his investment, is expected to make a decision in the coming days.
Villa must also find £40million over the next two transfer windows in order to comply with Financial Fair Play regulations, yet improving cashflow is the most immediate and pressing concern.
An additional concern for Xia is the threat of legal action from former chief executive Keith Wyness, who is suing the club for constructive dismissal.
Wyness left earlier this month after clashing with the owner over the best way to handle the financial storm triggered by Villa’s failure to reach the Premier League.
