Aston Villa 'seeking £30m cash investment'

Aston Villa owner Tony Xia has reportedly started to look for outside investment in the region of £30m.

Earlier this month, it emerged that Villa were facing the prospect of extensive cutbacks after missing out on promotion to the Premier League, with some reports suggesting the possibility of administration.

Villa have allegedly secured enough funds to meet an upcoming tax bill but according to the Birmingham Mail, Xia remains active in looking for further investment.

The report claims that the Chinese businessman has set his sights on £30m in return for shares, but as it stands, Xia remains against parting ways with the West Midlands outfit.

Villa will have to lower their wage bill and sell players during the summer but as it stands, it is unclear how many outgoings will take place at the Championship club.