Villa announce major losses

Tue, 28 Feb 16:29:03 2012

Aston Villa have announced losses of almost £54million for the year ended 31 May 2011.

The club confirmed the overall group loss for the year has increased to £53.9million from £37.6million.

That figure includes the money spent to bring Darren Bent to the club in January last year, but does not factor in the sales of Ashley Young to Manchester United and Stewart Downing to Liverpool which went through last June.

The club also revealed record revenues, with commercial income increasing by 15.9% year on year and total income by 1.3%, resulting in record income of £92m.

Villa spent £12m on changes in football management staff, with £25m invested into the club by owner Randy Lerner.

There was an £8.3m reduction in bank borrowings.

 

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