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Aston Villa ownership D-day looms for Tony Xia

Aston Villa | Published:

Villa owner Tony Xia has reluctantly accepted he must face up to a significant move towards a change of ownership as early as this week, the Express & Star understands.

Cash crisis: Tony Xia

Xia is struggling to get cash into the club and it is understood he now accepts he cannot retain full control to avoid Villa plunging into administration.

The Chinese entrepreneur has seen the claret and blues spiral into a deepening cash crisis following their failure to secure promotion to the Premier League as they bid to avoid financial fair play sanctions.

More bills must be paid by the Villa hierarchy this month – including the latest HMRC tax bill, due next Monday – as they fight to stave off a points penalty that would come with administration.

Xia is back in the UK in a bid to sort out the problems engulfing the club – with a potential change of ownership or a significant minority investor coming in as early as this week, it is believed.

It is understood the 41-year-old has received a number of offers, ranging from a full buyout to a cash injection from the sale of a minority stake.

Meanwhile, ex-Portsmouth chief Milan Mandaric has denied he is looking to take over but did confirm he is acting as an adviser to one group.

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