Villa Park Sold to Clubs Owners for Mouth-Watering £56.7m to Comply With FFP Regulations

​Aston Villa's ground, Villa Park, has been sold to the club's owners Wes Edens and Nesef Sawiris for £56.7m. The stadium is now owned by NSWE Stadium Ltd, who are controlled by Sawiris and Edens. 

Documents reveal that the ownership has been moved from the club to the owners, something which has previously been frowned upon. Yet the reasons behind it are thought to be to comply with Financial Fair Play regulations. 

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As revealed by BirminghamLive (via ​Express & Star) through access of Land Registry documents, NSWE paid the £56.7m on the 21 May, assuming control over the company as part of the agreement, previously known as Aston Villa Ltd.

There are numerous subsidiary companies which make up the control of Villa, with NSWE as one of them, all feeding into main parent company Recon Group UK Ltd. Becoming directors of NSWE now giving Sawiris and Edens greater control. 

Sawiris and Edens halted financial turmoil for the Birmingham club, saving them from very hefty financial issues back in 2018, becoming majority shareholders. Since then, the club has gained promotion back to the Premier League and their fortunes appear to be looking upwards.

FBL-ENG-ASTON VILLA-DERBY

Despite this, the change of hands over the ownership of the stadium has unsettled fans. The Aston Villa Supporters' Trust has released a ​statement regarding their concerns. 

"The Trust is concerned to read the news today, that despite the recording of an Asset of Community Value on the stadium, a transfer of ownership may have taken place.

"We are attempting to clarify the details. When they are available we will seek an urgent meeting with the club.

"In addition, we will be requesting clarification on the loss of match day facilities for fans, with the demolition of Villa Village and the Academy, which was not mentioned at the FCG when it is evident plans were far advanced." 

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Fans will be hoping to get the issue resolved shortly as the club look to prepare for their return to the Premier League.


Source : 90min

Source: 90min