Following the completion of the Football League's Owners' and Directors' Test, Aston Villa has been sold to Dr. Tony Xia.
Aston Villa has confirmed the sale of the club to Dr Tony Xia's Recon Group.
The deal, which will see the Chinese businessman acquire 100 per cent of the club from previous owner Randy Lerner for a sum reported to be around 60 million pounds ($87.5M), was originally announced last month.
However, Dr. Xia has only now passed the Football League's Owners' and Directors' Test, allowing the paperwork to be completed.
The 39-year-old has been installed as Villa's new owner and chairman.