BIRMINGHAM, England – Aston Villa was sold Wednesday to a Chinese businessman after a decade under the American ownership of Randy Lerner.
The sale to Tony Jiantong Xia’s Recon Group follows the central England club’s relegation from the Premier League after placing last in 2015-16.
No details of the deal were available. The takeover is subject to approval by English football authorities, Villa said, including Xia being declared a “fit and proper” director.
One of Xia’s immediate priorities is appointing a manager to lead the club’s return to the top flight, Villa said on its website, with the new owner then targeting European qualification with a top-six finish.
“Tony has built his career around infrastructure,” Lerner said. “He is certainly a hugely successful businessman but importantly for me he is passionate about architecture, site design and planning.”
Lerner said Xia is committed to investing in the squad and developing the Villa Park stadium, which can hold more than 42,000.
“I remain convinced that this is a crucial part of the club’s future as it provides a critical, long-term second source of revenue and therefore sustainability for the club from which squad-funding can potentially come,” Lerner said.