Aston Villa owners Wes Edens and Nassef Sawiris have pumped £20million into the club in the form of a new share issue, Football Insider can reveal.
A Companies House submission on Thursday (30 March) – which was backdated to the previous Tuesday (21 March) – shows that Villa have allotted 20m shares at £1 each.
It is the club’s fifth share issue in seven months, with the amount externally invested during that time totalling £118.5m.
The cash is interest-free and likely to be used to fund day-to-day operational activities.
It is a move that re-emphasises the owners’ committment to externally funding the club while it strives for long-term profitability.
Villa’s £400,000 profit in 2021-22 was the club’s first since Edens and Sawiris bought the club in 2018, and – astonishingly – the first under any owner since 2002.
That surplus, which was largely due to the sale of academy product Jack Grealish to Man City for a club-record £100m, followed losses of £99.5m and £68.9m in the previous two financial years, which were both affected by Covid.
Premier League clubs are currently allowed to lose £105m over a rolling three-year period as long as £90m is covered by an owner, although the rules were temporarily relaxed after the pandemic struck.
Edens and Sawiris have approved plans to boost capacity at Villa Park from 43,000 to 50,000 in the hopes of closing the substantial matchday income gap between themselves and the so-called ‘Big Six’.
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By: Adam Williams, Finance & Governance Correspondent
Title: Exclusive: Edens & Sawiris bankroll £119m Aston Villa injection – paperwork filed
Sourced From: www.footballinsider247.com/aston-villa-bank-119m-cash-injection-as-paperwork-filed-revealed/
Published Date: Thu, 30 Mar 2023 18:52:05 +0000
