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Jonathan White

English Premier League side Aston Villa have confirmed that Chinese businessman Tony Xia is no longer involved with the club.
This came because Xia was unable to pay a £30 million (US$36 million) debt to former owner Randy Lerner, payable because Villa gained promotion within three seasons of the May 2016 takeover.
Xia took over the ownership of the club through his Recon Group after buying it for £76.2 million (US$91.6 million) from former owner US billionaire Randy Lerner.
An August 9 filing by Recon Group UK Limited, Villa’s parent company, with UK government body Companies House confirmed that Xia officially departed his role as director on August 2.
Meet Tony Xia Jiantong, the 40-year-old Chinese businessman who just bought soccer club Aston Villa for HK$683.5m
Current owners Nassef Sawiris and Wes Edens, who bought Xia’s majority stake last July when they invested through their NSWE company, now own all of Xia’s shares.
Clearing Xia’s unpaid debt also saw them take his final 13 per cent stake in the Villa Park club and terminated his role as a director.
Unpaid tax bill leaves Aston Villa’s future in doubt as Tony Xia ‘ready to sell’
The end of the Xia era coincided with the club’s return to the top flight after two seasons in the Championship.
Both seasons ended with a trip to Wembley for the play-off final, with a heartbreaking loss to Fulham in 2018 followed by ecstasy at securing Premier League football by beating Derby County last season.
Xia was initially popular at Villa Park as he invested in the club at the outset, but his struggles with moving money from China saw the club in financial peril.
Tony Xia claims to have kept promise to Aston Villa fans
Xia's period at the club saw huge spending as Villa racked up £50 million losses in the two years he was owner.
There was an outstanding tax bill that threatened the club with administration, with only days to go before Sawiris and Edens bought Xia out.
The Football League also threatened Financial Fair Play punishments.

Tony Xia's association with #avfc is over. Documents filed at Companies House show his directorship has been terminated, remaining shares transferred to NSWE. No longer listed as vice-chairman on the club's website.
— matt maher (@mjmarr_star) August 9, 2019

Sawiris and Edens have now invested well over £200 million (US$240 million) in the former European champions.
Villa spent more than £100 million (US$120 million) on new players for their squad this summer but fell to a 3-1 defeat by Tottenham Hotspur in their opening Premier League game of the season.
Xia, who was renowned for his activity on Twitter, has yet to comment on the change in circumstances at the club.


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English Premier League

Aston Villa’s Tony Xia era over as Chinese billionaire fails to pay US$36 million debt to former owner Randy Lerner

Aston Villa owner Tony Xia watches the club at Wembley in the 2018 Championship play-off final. Photo: Reuters

Aston Villa’s Chinese chairman Tony Xia claims he kept his Premier League promise by gaining promotion in Championship play-off final

Aston Villa co-owner Tony Xia celebrates the club’s second goal in the Wembley stands. Photo: Reuters

Chinese-owned Aston Villa in crisis with unpaid US$5.6m tax bill threatening club’s existence and Tony Xia ‘ready to sell up’

Aston Villa owner Tony Xia watches his side’s play-off loss to Fulham at Wembley. Photo: Reuters

FILE PHOTO: Villa Park, Birmingham, Britain - May 15, 2018 Aston Villa manager Steve Bruce gestures Action Images via Reuters/Craig Brough/File Photo

(FILES) In this file photo taken on May 26, 2018 Aston Villa's English defender John Terry applauds their supporters ahead of kick off in the English Championship play-off final football match between Aston Villa and Fulham at Wembley Stadium in London on May 26, 2018. Former England captain John Terry said on May 31, 2018 he was leaving Aston Villa and admitted he was "still hurting" after failing to help the Championship club reach the Premier League. / AFP PHOTO / Ian KINGTON / NOT FOR MARKETING OR ADVERTISING USE / RESTRICTED TO EDITORIAL USE

Meet Tony Xia Jiantong, the 40-year-old Chinese businessman who just bought soccer club Aston Villa for HK$683.5m 

Xia is widely regarded as a savvy asset trader

Xia Jiantong (R), the chairman of Recon Group, who has agreed to buy English soccer club Aston Villa, smiles as he speaks to unidentified person in his office in Beijing, China May 19, 2016. REUTERS/Damir Sagolj

Tony Xia Jiantong, chairman of Recon Group, who has agreed to buy English soccer club Aston Villa. Photo: Reuters

Sport

Football


Fee payable on promotion was part of May 2016 deal to take over at Villa Park
Nassef Sawiris and Wes Edens now own club outright and Xia has left role as director



Fee payable on promotion was part of May 2016 deal to take over at Villa Park


Aston Villa’s Tony Xia era over as Chinese billionaire fails to pay US$36 million debt to former owner Randy Lerner

.css-1mniedq{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;} Fee payable on promotion was part of May 2016 deal to take over at Villa Park Nassef Sawiris and Wes Edens now own club outright and Xia has left role as director

Fee payable on promotion was part of May 2016 deal to take over at Villa Park

Nassef Sawiris and Wes Edens now own club outright and Xia has left role as director