Is the future exciting for Aston Villa?

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Aston Villa secure new investment to ease financial crisis (July 20 2018)

Sky Bet Championship side Aston Villa have secured 'significant investment' in the club in an effort to ease their current financial crisis.

Owner Tony Xia has been holding talks to relinquish control of the club to an Egyptian group, in what will be a co-ownership deal.

The Chinese businessman has spent the summer searching for fresh investment to plug a reported £40million deficit after Villa failed to win promotion back to the Premier League last season.

A statement issued by the club said: "Dr Tony Xia and Aston Villa Football Club announce that NSWE, a company that is jointly owned and controlled by businessman Nassef Sawiris' group NNS and businessman Wes Edens, will immediately inject significant investment capital into the club. At the same time, Dr Tony Xia will become co-chairman and remain on the board."

Speaking to avfc.co.uk, Xia commented: "I am extremely pleased to have formed a strategic partnership with Nassef and Wes. We have a common goal of delivering future success for Aston Villa and I look forward to working together to achieve this aim.

"To have come so close to achieving promotion last season was a humbling experience. In finding such strong partners as Nassef and Wes we’re gearing up to fight again and bring back the success that this Club deserves and we all so want to provide it with.

"The future is exciting on a number of fronts and I look forward to exploring further business collaborations."

Nassef Sawiris and Wes Edens added: "As lifelong football fans, we are excited and privileged to have become part of this great Club. We believe that together we bring business and sports experience that will help strengthen the Club to ensure Aston Villa can return to its rightful place in the upper echelons of English football.

"Our goal is to bring sustainable success to the Club, building on its rich history while respecting its loyal fan base and unique culture. We understand that we are stewards of Aston Villa on behalf of the fans and we take that responsibility seriously.

“We look forward to working with Dr Tony to undertake a thorough assessment and evaluation of the Club in the coming weeks and our priority is to strengthen the squads and structures ahead of the upcoming season and beyond."