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Randy Lerner agrees to sell Aston Villa to Recon Group

Aston Villa have announced their owner Randy Lerner has agreed a deal to sell the Championship club to Dr Tony Jiantong Xia's Recon Group.
The sale is subject to Premier League and Football League approval.

"Aston Villa Football Club is pleased to announce that an agreement has been signed today for the sale of 100% ownership by Randy Lerner to Recon Group owned by Dr Tony Jiantong Xia subject to the approval of the Premier League and the Football League," read a club statement released on Wednesday.

"Once those approvals have been granted and the new board members approved under the fit & proper rules of both leagues, Dr Xia will become Chairman of Aston Villa. The Club will announce the appointment of a new manager shortly.

"Randy Lerner has sought the right new owner for Aston Villa who would take great care of the Club and restore its fortunes. He believes that Tony Xia is an excellent choice.

"Recon Group is Dr Xia's privately owned holding company that owns the controlling interest in five publicly listed companies on the Hong Kong and Chinese stock exchanges and many other private companies employing 35,000 people in 75 countries."

The Villans finished bottom of the topflight in 2015/16.
Sphamandla Ntshokotsha

Sphamandla Ntshokotsha

Staff writter

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