Chinese Millionaire Tony Xia Purchases UK’s Aston Villa Club Team

Chinese Millionaire Tony Xia Purchases UK’s Aston Villa Club Team
May 20, 2016 By eChinacities.com

Chinese millionaire Tony Xia has purchased the English club team Aston Villa. Xia was announced as Villa’s owner on Wednesday, with a 100% share in the club. Xia said that he will work to revamp the club in an effort to rejoin the Premier League. He also plans to set up a new board of directors.

BBC and other media outlets have confirmed that Xia acquired Villa for 60 million Pounds. The former owner, Randy Lerner acquired the team in 2006 for 62.2 million Pounds.

Although the price did not change much in the last ten years, the team dropped into the Championship last month and had one of their worst seasons last year in the team’s history. The team’s commercial value is greatly reduced, and mismanagement over the years had led to losses of up to 275 million Pounds.

Villa ranked last in their league in the 2015-2016 season. The club was founded in 1874 and was traditionally a league powerhouse with seven FA Cup wins and five League Cup wins. Villa also won the European Cup in 1982.

Xia says that his goal is to get the team back in the Premier League and bring the team into the top six in less than five years. He also hopes to attract a large number of Chinese fans.

Xia made his fortune working on infrastructure projects and owns the Mainland China and Hong Kong based Recon Group. The company has holdings in more than 75 countries and has over 35,000 employees

Source: thepaper.cn

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Keywords: Aston Villa Villa Club Tony Xia

2 Comments

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Guest2503130

And look forward to thousands of spitting, shouting, belly-exposing Chinese peasant men in the stadium...

May 22, 2016 18:01 Report Abuse

Guest14657450

Remove the word Chinese from your sentence and you will have descibed Villa fans.

May 29, 2016 23:35 Report Abuse