Aston Villa have been sold to a Chinese group owned by Dr Tony
Jiantong Xia, the Championship club announced on Wednesday May 18,2016, in a deal
worth a reported 60 million pounds ($87.8 million).
Aston Villa crashed out of the Premier League after a miserable season that saw the Midlands team win just three of their 38 matches, but that hasn't stopped Dr Xia making his move.
US-based owner Randy Lerner had been trying to sell Villa for two years and has finally found a buyer after significantly lowering his asking price to a reported £60 million ($86 million, 76 million euros).
"Aston Villa Football Club is pleased to announce that an agreement has been signed today for the sale of 100 percent ownership by Randy Lerner to Recon Group owned by Dr Tony Jiantong Xia subject to the approval of the Premier League and the Football League," a Villa statement read.
Aston Villa crashed out of the Premier League after a miserable season that saw the Midlands team win just three of their 38 matches, but that hasn't stopped Dr Xia making his move.
US-based owner Randy Lerner had been trying to sell Villa for two years and has finally found a buyer after significantly lowering his asking price to a reported £60 million ($86 million, 76 million euros).
"Aston Villa Football Club is pleased to announce that an agreement has been signed today for the sale of 100 percent ownership by Randy Lerner to Recon Group owned by Dr Tony Jiantong Xia subject to the approval of the Premier League and the Football League," a Villa statement read.
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