Chinese businessman and Chairman of the Recan Group Dr Tony Jiantong Xia has agreed to buy relegated Aston Villa for £60m, the club has confirmed via an official statement.
American billionaire Randy Lerner, who bought Aston Villa in 2006, put the club up for sale in 2014, and he believes Xia is an “excellent choice” to take the club forward.
Lerner has been actively trying to sell the club for years now and he failed to strike a deal with investors largely due to his demands for a £200m fee, having bought the club for £62.