Tony Xia rejects £30million offer of US investment in Aston Villa
Villa’s troubled summer has taken another twist after it emerged owner Tony Xia has turned down another offer of investment in the cash-strapped club.
The offer from a US-based group of £30million for a 30 per cent share would have seen Xia retain overall control and eased Villa’s financial predicament.
But it is understood to have been rejected out of hand last month by the owner, who continues to drive a hard bargain despite the club’s considerable money concerns.
Xia last week knocked back an offer from European consortium, who were willing to pay £40million for a 51 per cent stake controlling stake.
Two other groups remain interested and have held initial talks with the owner. Sources close to those negotiations remain hopeful of progress in the coming days, while there is a chance the US group could even return with an improved offer.
Yet Xia’s reluctance to relinquish control in a club in which he claims to have invested £150million has become increasingly clear and sealing a deal will not prove easy for any potential investors.
Villa have been plunged into crisis following their failure to reach the Premier League, which brought Xia's own financial concerns to a head.
The owner is understood to have struggled to fund Villa effectively since last August, with the club narrowly avoiding a winding-up order last month, after missing a tax payment.
Xia was able to source enough cash to eventually pay the bills and June's tax payment was made on time.
But the club's short-term financial position, nearly a month since news of the missed tax payment first emerged, remains precarious.