Aston Villa announce $89 million loss despite sale of stadium
Aston Villa announced this week a loss of $89 million while en route to winning Premier League promotion last season, despite raking in $73 million ($46 million profit) for the sale of Villa Park.
While Villa Park is no longer property of the club, it is owned by NSWE Stadium Limited, which is a company owned by Villa co-owners Nassef Sawiris and Wes Edens. Upon purchasing Villa Park via their company, Sawiris and Edens immediately leased the stadium back to the club. The deal was completed just 10 days before the end of the financial year.
Without that (one-time) source of income, Villa’s losses would have topped $130 million for last season. In that even, Villa would have almost certainly failed the English Football League’s financial profit and sustainability regulations.
Villa said in a club statement that from 2016 to 2019, “the club complied with the EFL’s Profitability & Sustainability Rules. After promotion, the Premier League reviewed and confirmed compliance in accordance with their own policies and procedures.”