Aston Villa have released a statement to confirm they have been sold.
Previous owner Randy Lerner has sold 100 per cent of the club to the Recon Group, which is owned by Chinese businessman Dr Tony Jiantong Xia.
Recon Group is a privately-owned holding compony for Xia’s five companies that are publicly listed on the Hong Kong and Chinese stock exchanges, plus other private companies. In total the group employs 35,000 across 75 countries.
A statement released by Villa claims Xia is a long-standing fan of the club. He is said to have played as a striker until he completed his college studies.
His objectives are given as returning relegated Villa to the Premier League, then pushing for a top-six finish and a return to Villa Park of European Park.
Xia’s takeover is subject to him and the other new board members passing the Premier League and Football Leagye’s fit and proper person rules.
