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Aston Villa losses hit £110 million
ASTON VILLA’S losses have hit a staggering £110 million over the last three years.
The club yesterday posted a loss of nearly £54m for the financial year, following losses of £38m and £28m in previous seasons.
The huge losses are the reason why owner Randy Lerner, who has a personal £1.8bn fortune, has ordered manager Alex McLeish to cut the players’ wage bill.
The latest figures – to May 31, 2011 – include the £24m spent on Darren Bent but not the £36m brought in from the sales of Ashley Young and Stewart Downing last summer.
Apart from buying Charles N’Zogbia for £10m, McLeish has been severely restricted in bringing in players and that is likely to continue as Lerner slashes costs.