Significant investment pumped into Aston Villa

Aston Villa manager Steve Bruce acknowledges the supporters following the Pre-season friendly between AFC Telford United and Aston Villa at New Bucks Head Stadium

Tony Xia is believed to be close to selling his majority share in Villa, as he looks to solves the club's financial problems.

The assistant to Aston Villa owner Dr Tony Xia has commented amid speculation the club is about to be sold to a consortium from the Middle East.

The deal has been ratified by the English Football League and comes after Villa, who were relegated from the top flight in 2016, lost to Fulham in the Championship play-off final in May.

Xia purchased the club for £76m in 2016 with promotion his immediate aim, but failure to get back into the Premier League in the past two seasons has taken its toll on Villa's finances, with the gamble backfiring to nearly fatal effect. The club missed a £4m payment to HMRC and have relied on Xia to cover financial shortfalls, which reached a reported £40m.

Mr Sawiris, whose wealth is estimated at $6.9 billion according to the Bloomberg's Billionaires Index, has several high-profile investments including in German shoemaker Adidas, cement firm LafargeHolcim and nitrogen-fertilizer company OCI NV, which he runs. We have a common goal of delivering future success for Aston Villa and I look forward to working together to achieve this aim.

Former player and TV commentator Thierry Henry lookson prior to kickoff during the UEFA Champions League Semi Final first leg match between FC Barcelona and FC Bayern Muenchen at Camp Nou
Aston Villa On The Verge Of Middle-Eastern Takeover [Report]

The 57-year-old is on a rolling contract at Villa Park and Villa's new investors could want to make a change in the manager's seat and bring in their own man to take the club forward.

Former England captain John Terry departed at the end of last season, while British media have linked midfielder Jack Grealish with move to Premier League side Tottenham Hotspur.

Sawiris and Edens said: "As lifelong football fans, we are excited and privileged to have become part of this great club".

The Fiver: sign up and get our daily football email. Aston Villa was acquired by Xia from USA businessman Randy Lerner in May 2016.

Trump undermines North Atlantic Treaty Organisation , suggest 'aggressive' Montenegro may start WWIII
It used to be part of Yugoslavia back when Yugoslavia was a thing, and for a short while they shared a football team with Serbia. It now has 20 troops serving in Afghanistan as part of the NATO-led training mission there.

More than 50,000 jobs were created in Australia in June | Leadership
However, unemployment for youth dropped by 11.3% last month, the lowest rate in the country for six years, since April 2012. The unemployment rate was steady at 5.4 per cent, falling just 0.1 percentage points since the start of the year.

Maxine Waters defenders gather to counter far-right protest that doesn’t happen
One group, chanting "black power", stopped a pickup truck as it approached the protesters, according to CBS News . Waters had asked her supporters not to engage with them.

Related:

Comments

Latest news

Father of Parkland shooting survivors killed in armed robbery
However, he would later return and force Ali into his office, where the suspect shot and killed the father of four. Investigators urge anyone with information to contact Detective James Hayes at 954-321-4231.

Fleetwood surges back into contention for Open glory
He has transformed his Friday fortunes in the Open and the opportunity to contend appeals to the man who closed last month's U.S. After his off time and his back surgery of a year ago , this was all preferable. "You want to see your friend win if you can't".

British Police Identify Russian Suspects Behind Skripals' Poisoning, Media Says
The PA reports that Sturgess was exposed to at least 10 times the amount of nerve agent the Skripals came into contact with. An inquest heard the results of a post-mortem examination would not be revealed until more tests had been carried out.

Anthony Anderson "Unequivocally Disputes" Criminal Complaint Against Him
The accuser came forward months after the incident because she was emboldened by the #MeToo movement, the source said. According to The Blast , Anderson allegedly assaulted a woman after an event she catered for the actor past year .

Boeing, Airbus jet sales soar as Farnborough Airshow winds down
But the planemaker's hopes of securing an additional order for 100 A321neo from AirAsia appeared to have been dashed. It also announced a transaction for as many as four 777s with Dubai-based lessor Novus Aviation Capital.

Royal fans insist Princess Charlotte looks just like Princess Diana
And just like the " Meghan Markle effect", Princess Charlotte's fashion is the reason that she is worth more than her brothers. In social networks even created a separate page devoted to the likeness of Princess Charlotte and her legendary grandmother.

Angela Merkel Defends Trump's Planned Meeting With Putin - Lauretta Brown
Merkel called Trump's auto tariffs "a real threat to the prosperity of many in the world", Reuters reported . Putin was last invited to the White House in 2005 by then-president George W.

PM among 1.5mn affected in 'state-sponsored' hack
Security measures, including the blocking of dubious connections and changing of passwords, were taken to thwart the hackers. The data consists of people who visited clinics and hospitals across the country between 1 May 2015 and 4 July of this year.

Police and public honoured for bravery in London Bridge terror attack
She was stabbed in the chest by one of the attackers as she attempted to save the life of one of the injured. Heroes of the London Bridge terror attack, including two who died, have been recognised for their bravery.

Two Love Island contestants have prematurely left the villa
Laura became upset when she learned from Georgia that Jack said he would have done the same thing if he had been in that position. Earlier this week Sam and Georgia were eliminated from the show by their fellow Islanders.

Donald Trump holds Vladimir Putin responsible for USA election interference
Sanders said Putin's proposal was "made in sincerity", but Trump "disagrees with it". But Putin himself did not go into any details during the speech.

A second Trump-Putin meeting would be careless
Trump and Putin discussed, and what agreement or agreements they reached, has been the topic of much discussion and confusion . She said Trump's "frightened fawning over Putin is an embarrassment and a grave threat to our democracy".

China, UAE announce new trade zone ahead of Xi visit
Peking University global relations professor Wang Lian said the trip was meant to show China's support for multilateralism. Xi's first time to the UAE as President and comes at a time that China is looking to expand its influence in the region.

Pompeo, Haley step up pressure to support Trump's talks on North Korea
Moscow and Beijing said they need additional time to investigate the USA allegations and put a six-month "hold" on the US request. These actions are all "generating significant revenues for the regime and they must be stopped", he said.

Suspected perpetrators of Former Russian Spy Sergei Skripal attack identified
Although police said there was no suggestion that the couple had been deliberately targeted, a murder investigation was launched. The government has continued to make clear it believes the Russian state was behind the attack on the Skripals.

Other news