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Post by Avinalaff on Jun 6, 2018 21:17:05 GMT
Aston Villa are facing the most important week in their 144-year history as owner Dr Tony Xia fights to keep the club out of the hands of administrators. Huge investment in player wages and more than £70million in transfers in just two seasons has left the club facing an HMRC winding-up order, with the prospect of administration a real possibility. Officially, Sky Sports News has been told the club is not for sale and that Dr Xia's financial problems are the result of cash-flow issues in China. Missing out on promotion is a big blow. One of the big English clubs.
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Post by rugbytoffee on Jun 7, 2018 16:20:38 GMT
Gambled on winning the final and now paying the price. Smacks of some bad financial planning and knee jerk purchases , sounds familiar
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Post by rugbytoffee on Jun 17, 2018 10:44:06 GMT
Aston Villa owe £30 million to other football clubs in outstanding transfer fees, figures have revealed.
Accounts show that Villa spent around £88m on signing players in the 2016/17 season but only paid cash of £58m - leaving a £30m deficit to make up.
The deals relate to installments owed to clubs as part of transfer deals and the balance is on credit to the other clubs.
Villa's transfer obligations were revealed by football finance expert Kevin Maguire earlier this month. A report in the Times stated that some payments relate to the signing of players such Ross McCormack, James Chester and Scott Hogan.
The Times states that that under the football creditors' rule, these clubs are entitled to be paid before HM Revenue and Customs.
Money is reportedly still owed to Fulham (£6m), West Brom (£2m) and Brentford (£3m) respectively.
Villa are trying to get their house in order after raising money to pay an outstanding tax bill earlier this month.
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