Aston Villa bid ‘lodged’ by Middle East group with owner Tony Xia holding talks
Villa are struggling to pay massive bills after their failure to gain promotion to the Premier League
ASTON VILLA owner Tony Xia is in talks with a Middle East group who have lodged a bid to take control of the crisis club.
Xia is believed to have a preferred group in mind as the Chinese businessman desperately seeks fresh investment, according to the website.
Villa have major financial problems after spending big last season but missing out on promotion back to the Premier League.
That has left Xia with a shortfall of around £75million to fill.
Some financial experts predict it would take £100m to keep Villa competitive in the Championship next season.
And the prospect of going into administration is a constant fear.
Xia has been struggling to meet monthly bills and is being forced to sell star player like Jack Grealish, who seems set for a move to Tottenham, and Wales defender James Chester who is wanted by Stoke City.
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Now Xia has met with the as yet unnamed group who are prepared to offer various levels of control.
It is thought a deal could soon be struck with Xia struggling for funds.
It is being reported that a two-stage deal is being proposed consisting of majority control for the new group - with the option of a potential takeover further down the line.
Other groups are still interested - but this bid is set to beat an advanced stage.
But boss Steve Bruce will want to see steps taken to solving Villa’s behind the scenes problems which has seen them fall way behind their Championship rivals this summer.
Xia has been seeking a £30m investment from interested parties.
But he would want around £70m for the club if he were to sell Villa two years after buying it from American billionaire Randy Lerner.