Aston Villa takeover: Chinese businessman Dr Tony Xia agrees £60m deal

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Aston Villa Fans

Chinese businessman Dr Tony Xia has agreed to buy relegated Aston Villa for £60m.

The deal, which is subject to Football League approval, would see Xia take 100% ownership and become chairman.

American billionaire Randy Lerner, who bought Villa in 2006 for £62.2m, put the club up for sale in 2014.

A club statement said Lerner “sought the right owner to take care of the club and restore fortunes” and believes Xia is an “excellent choice”.

The Midlands club’s new manager – likely to be Nigel Pearson or Roberto di Matteo – will be announced shortly.

Xia needs to gain Football League approval and provide proof of finance before formally completing his takeover.

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