MX23RW : Sunday, July 15 19:35:23

Tony Xia: 'Aston Villa not for sale, Steve Bruce to remain in charge'

Tony Xia: 'Aston Villa not for sale'
© Reuters
Aston Villa owner Dr Tony Xia insists that the club is not for sale and offers manager Steve Bruce his full backing.

Aston Villa owner Dr Tony Xia has offered an update on the team's ongoing financial crisis.

In a letter to supporters published on the Villans' official website, the Chinese businessman insisted that the club is not for sale and confirmed that manager Steve Bruce will remain in charge with his full backing.

Xia went on to say that he is actively seeking new investment to help the club raise the £40m they need to comply with Financial Fair Play regulations.

"For the avoidance of doubt, I remain a proud and committed owner of this football club and with that accept and embrace the responsibilities to the fans, players and staff," Xia said.

"Of course, given the financial realities, it would be prudent of us to be open and receptive to any potential minority strategic investment that would aid our objectives to consolidate after a tumultuous summer and ultimately achieve our ambition of returning to the Premier League.

"We will be very selective in any discussions to ensure that the club's best interests remain the focal point."

Villa missed a £4m tax payment earlier this month and were threatened with a winding-up order before they settled the debt, and another payment is due at the end of this week.

Previous reports suggest that Villa could be forced to offload key players, including Jack Grealish and Jonathan Kodjia, to settle their debts.

Documents on Companies House confirm that Xia has lifted a restriction on the sale of the club's shares.

Share this article now:
Aston Villa owner Tony Xia pictured on August 13, 2016
Read Next:
Xia aiming to sell stake in Aston Villa?
>

Loading ...

Failed to load data.

Loading ...

Failed to load data.

Select and display your favourite team's news and scores in this panel

Loading ...

Failed to load data.

Loading ...

Failed to load data.

Select and display your favourite team's news and scores in this panel

Subscribe to our Newsletter


Transfer Talk Daily
Match previews - twice weekly
Morning Briefing (7am UTC)
Ultra close-up image of Kevin De Bruyne [NOT FOR USE IN ARTICLES]Get the latest transfer news, match previews and news direct to your inbox!

Loading ...

Failed to load data.

Loading ...

Failed to load data.

Select and display your favourite team's news and scores in this panel
Login, I already have my ad-free pass
Log in to customise Sports Mole
Buy ad-free access (show me the options)
Buy monthly ad-free access for £1.20/month
Buy yearly ad-free access for £12 (2 months free)
Settings - Logout - Manage your account
Settings - Logout - Manage your account