Villa owners gun for Premier League in fight to dodge FFP sanctions
1 May 2019
Fourth cash injection in six months to keep club afloat.
Midlands club faces a struggle to avoid EFL sanctions for breaching financial fair play (FFP), if they miss out on promotion.
Amid Aston Villa’s ongoing financial struggles, the club’s parent company, Recon Group UK, has injected a further £22 million into the club via a share issue.
It’s the fourth time in the past six months that the Midlands club, which is racking up heavy losses every week, has generated a significant sum of cash through a share issue.
Recon Group UK issued 29,333,333 shares at £1 each, according to a 30th April filing at Companies House. With 75% of the value of the shares paid, it equates to £22 million. The unpaid amount can be realised at a later time.