Tony’s Statement.

[ktvillan]

It's quite an achievement that Lerner may have out-Douged Doug and found an even bigger idiot than himself to sell the club to.  Who next, Forrest Gump?  Trump? Forrest Trump?

[PaulWinch again]

That's not embarrassing at all.  We're effectively going to Cash Convertors and telling all our mates we're skint.

Oh oh but Dr Tony is a gazillionaire!

This humiliation won't end until these fucking clueless chancers move on

Talking of clueless - big up Lerner having us pay for his brainlessness even now that he's gone.

Yup it’s hideous.

[Rudy Can't Fail]

I'm not going to get all hot and bothered about Risso's tweet unless he can back it up with evidence.

[GarTomas]

The website is down. This is the beginning of the end....

[Ads]

The date of the Assignment confirms that the cash flow issue is historic, which supports the suggestion that Xia has had problems getting funds out of China for at least 12 months. It doesn't discredit the idea that the volume of funds are not as large as suggested, but given the amount he has injected suggests there is or has been a large enough well to draw from. The reluctance to sell could be of course holding out for the best price as far as he is concerned.

Its very difficult to draw any conclusions as the information we have is little and less. We know as much now as we did when he bought the club, i.e., not a lot. We know there have been cashflow problems and we've resorted to factoring income which poses several questions; i.e. has this been resolved? If so with what and for how long? Rumours of a £50m loan would be more than enough to cover the injections of cash Xia had been giving.

I wonder if there was a reason an Aussie bank was used beyond rates?

[kippaxvilla2]

Caution....This is from The Mirror....

Aston Villa takeover latest: Prospective buyers circle crisis club - but Dr Tony Xia wants to stay

Championship Villa are in the grip of a major crisis after missing out on the Premier League in the play-off final

Prospective buyers continue to eye crisis-hit Aston Villa despite embattled owner Dr Tony Xia insisting he doesn't want to sell.

Championship Villa are in the grip of a major crisis after missing out on the Premier League in the play-off final.

Chairman Xia is trying to remain in charge but has been unable to source substantial cash from his native China since last August.

The club were late paying a tax bill last month and CEO Keith Wyness has left and is suing for constructive dismissal.

Xia is now relying on loans to limp on as he searches for other stakeholders to join but allow him to retain control.


Xia insists he does not want to sell the club (Image: Birmingham Mail)

Villa are in financial despair after the playoff final defeat (Image: Action Images via Reuters)
Yet Mirror Sport understands there are serious buyers interested in owning Villa outright who believe Xia will have to listen if the club is on the brink of going under.

They feel they will get a chance if Xia has no other option but to put the club into administration, which would incur a 12-point penalty.

That was among the advice from Wyness,60, which drew him into conflict with Xia after the devastating play-off loss to Fulham.

Wyness maintains he was fulfilling his obligations to creditors as a director to look at getting money in to avoid being insolvent.

Under the guidance of blue chip advisors, Wyness explored both administration and selling up.


Keith Wyness has departed the club (Image: REUTERS)
But Xia objected and suspended Wyness before he walked away earlier this month and has since started legal proceedings which could cost Villa up to £6million.

Boss Steve Bruce's squad return for pre-season next Wednesday on July 4 before travelling to Portugal on July 5.

Player sales are expected with Tottenham chasing Jack Grealish and James Chester also likely to attract bids.

Xia has previously blamed Villa's “severe” problems on Financial Fair Play rules and claimed he cannot get his cash out of China.

But there are concerns the self-styled tycoon, who has turned up at the training ground in a Uber, simply doesn't have the funds he pledged when he bought out Randy Lerner in 2016.

[john e]

That's not embarrassing at all.  We're effectively going to Cash Convertors and telling all our mates we're skint.

Oh oh but Dr Tony is a gazillionaire!

This humiliation won't end until these fucking clueless chancers move on

Talking of clueless - big up Lerner having us pay for his brainlessness even now that he's gone.

Remember all those times in the past couple of seasons when we mentioned that all things might not be as we were led to believe about Xia

and we got shouted down every time for shit stirring and doomongering

[ChicagoLion]

We have paid the tax bill in full and have enough working capital to last until Christmas. Doesn't mean our position financially is still not perilous mind

Was it more than one month's PAYE we owed then?  What's the plan for after Christmas then, I assume desperately trying to sell the club?

The worry is, what has he done to get the money.
Sold future transfer payments, future revenue streams?
Hope it’s not  a Glasgow Rangers situation.
Oh dear

This could get ugly

[andyh]

The website is down. This is the beginning of the end....

Someone twittered recently that this was on the cards.
Surely it’s ‘just’ a maintenance issue?..............surely?

[Des Little]

We have paid the tax bill in full and have enough working capital to last until Christmas. Doesn't mean our position financially is still not perilous mind

Was it more than one month's PAYE we owed then?  What's the plan for after Christmas then, I assume desperately trying to sell the club?

The worry is, what has he done to get the money.
Sold future transfer payments, future revenue streams?
Hope it’s not  a Glasgow Rangers situation.
Oh dear

This could get ugly

Get ugly?  Right now it's pretty similar to a 6 pint darling at 11pm in Sam Wellers

[wittonwarrior]

If we had  have beaten Fulham, would the financial problems have shown themselves in some guise? 

[Drummond]

That Mirror article just regurgitates the same old shit that has been in every other article since the news originally broke.

There is just speculation and nothing particularly scary. The other issue is around this factoring thing, it isn't anything new is it? Isn't it just the old stuff being brought more formally to light?

[john e]

That Mirror article just regurgitates the same old shit that has been in every other article since the news originally broke.

There is just speculation and nothing particularly scary. The other issue is around this factoring thing, it isn't anything new is it? Isn't it just the old stuff being brought more formally to light?

if we were on the Titanic you would be the one playing the violin saying 'it's just a drop of water'
i would be the guy dressing up as a woman to get on the lifeboats

[ChicagoLion]

If we had  have beaten Fulham, would the financial problems have shown themselves in some guise?

Impossible to tell.
The short term borrowing would eventually be repaid from the PL bonanza  maybe there was significant investment lined up for the club and those other projects.
On the other hand perhaps the wreck less approach to the way the club was run continued.

[ChicagoLion]

It’s not what most people recognize as Factoring.