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New Villa owner not quite what he seemed

What is claimed to be a 'miscommunication' led to Aston Villa overstating the number of companies under the control of new owner Tony Xia.   

It was claimed that his company had the controlling interest in five publicly listed companies.   In fact it only has a 75 per cent stake in Lotus Health, a large producer of the food additive MSG.   Four other companies are said to be in the process of acquisition.

Sunderland seek to boost finances

New Sunderland chief executive Ellis Short has been given the task of boosting the club's finances.  Their last set of accounts showed that pre-tax losses has gone up by £8m to £25.4m.   Turnover fell from £104.1m to £101.1m.

Staying in the Premier League was vital as they will benefit from the new television contracts.  Boosting sponsorship and merchandising revenues may not be easy.

New Chelsea kit deal expected

Having terminated its kit deal with adidas which was worth £30m a year, Chelsea are expected to conclude a new deal with Nike worth £600m over ten years.  This would rank them second after Manchester United in terms of kit deals.   Arsenal's kit deal with Puma is worth just over £30m a year.

Villa deal completed

Aston Villa has been sold to Chinese businessman Tony Zia for £60m.   Xia has a strong track record as a businessman in China.   His Recon Group is a holding company which controls five companies.

The new owner says that he is prepared to spend £50m on new players and wants to make Villa the most popular club in China.

Outgoing owner Randy Lerner sank tens of millions of pounds into the club during his period of ownership.  He said farewell in a rambling statement on the club website.

Villa sale near

The sale of Aston Villa to a Chinese businessman could be completed by the end of the week.   It is thought that the asking price will be around £60m.

That would represent a loss on the £62m Randy Lerner paid for the club ten years ago before taking account of inflation, although some sources are quoting a sale price of £75m.  Lerner at one time wanted £200m for the club and then cut the price to £100m.

What is the state of Norwich City's finances?

Well-informed local sources have denied claims that Norwich City are in a financial crisis.   Of course, any relegation is going to be accompanied by some players being released and I would expect the Canaries to have clauses in players' contracts that reduce their salaries in the event of relegation.

Truro City need £500,000

Truro City need half a million pounds of investment if they are to make it into the National League.  This year they lost in the play-off semi-final.

Peter Masters and Phillip Perryman took control of the club in 2012 when it was on the verge of liquidation.   £25,000 has been pumped into the club every month this season.  It will soon be debt free.

How viable is the project to have a top flight non-league club in Cornwall?  It is a rugby county and many incomers have allegiances elsewhere.   There are also pockets of support for Plymouth Argyle.

Record quarter at United

Indifferent results on the pitch have done no harm to Manchester United's financial results with the club announcing record quarterly earnings which mean that they are on track for year end revenues of £500m or more.

Revenues were £123.4m, up just under 30 per cent on the same period last year.   There was a profit of £11.7m compared with a loss of £7.1m last year.

Newcastle and Sunderland compared

The relegation of Newcastle United means that the club will lose out on the proceeds of the first year of the £5.1bn television deal with Sky and BT.   The bottom placed club will receive more money than has gone to Leicester City as champions this year.

Newcastle will receive parachute payments of 55 per cent of the share of broadcast revenue in the first year, then 45 per cent and 20 per cent in subsequent years, if they do not win promotion.

Cellino: I'm ready to quit

Massino Cellino has said that he is ready to quit Leeds United: 'I've had enough.'   The owner told The Times, 'It's better to walk out, not because I'm dishonest but because I'm tired and hurt and lonely,' as violin music welled up in the background.

He continued, 'I have no happiness any more and don't know if I have the enthusiasm for next season.  If I could turn back time and you ask whether I would come to this club, I would say never.  I've never been so confused.  I am nearly 60 and I would never have expected that from Leeds.'