Aston Villa settle tax bill but financial concerns remain

Tanya Simon
June 7, 2018

The club have given assurances that a further £700,000 will be paid to HMRC before the weekend, and are working on a short-term solution to their cash flow issues, so that the remaining £1.2m bill can be paid as soon as possible.

Sky Sports News reported that, officially, the club isn't for sale but understand the owner Tony Xia, who has been in China since the play-off final defeat, is attempting to attract new investors to share the burden.

The prospect of a third successive season in the Championship is proving to be highly damaging to Villa, who have invested heavily in players over the past two years and will receive a reduced Premier League parachute payment of about £15m next term. He would apparently be prepared to cut his losses and sell the club for the right price.

Aston Villa have been thrown into financial turmoil and face the threat of being served with a winding-up petition by HMRC, after the Championship club failed to pay a tax bill that was due last Friday.

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Villa already need to find £40 million in order to comply with Financial Fair Play, which may see them needing to sell a player in order to fund that necessity.

The Telegraph reports that Villa were late in making their regular tax bill and will make the payment this week but failing to do so would lead to a winding-up order and the death of one of England's oldest football clubs and the former champions of Europe.

That is likely to result in large cost-cutting at Villa Park, meaning they may have to cash in on saleable assets such as midfielder Jack Grealish. But, in all honesty, Villa's approach in trying to win promotion back to the Premier League looks to have been foolhardy.

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