Facing EPL relegation, Aston Villa reveals losses of $81 million
LONDON (AP) — Aston Villa's new accounts have revealed losses of 57.3 million pounds ($81 million) as the club faces a costly relegation from the Premier League.
In 2014-15, Aston Villa Football Club Limited generated 112.5 million pounds ($160 million) in revenue but saw administrative expenses soar by more than 56% to 169 million pounds ($240 million).
Villa reached the final of the FA Cup last season but finished 17th in the league, narrowly avoiding relegation last May.
Now the former European champion is stranded at the bottom of the Premier League and facing relegation. The loss of 57.3 million pounds followed a 1.6 million pound profit in 2013-14.
American owner Randy Lerner is trying to sell the central England club.