Aston Villa owner Randy Lerner has reached an agreement to sell the club to Chinese businessman Dr Tony Jiantong Xia.
Aston Villa has announced owner Randy Lerner has agreed to sell the club to Dr. Tony Jiantong Xia's Recon Group.
The American investor has agreed to sell 100 percent of the ownership rights to Xia's holding company, subject to approval from the Premier League, for a reported 60 million pounds ($87.5 million).
Villa, which finished bottom of the Premier League this season, has also confirmed that it will announce the appointment of a new manager imminently, with former Leicester City boss Nigel Pearson and ex-Chelsea manager Roberto Di Matteo reported to be the frontrunners.