Villa announces 2011 losses of £54m

Aston Villa have announced a loss of around £54million for the financial year ending May 2011.

Aston Villa have announced a loss of around £54million for the financial year ending May 2011.

The West Midlands club lost £53.9m – an increase on the previous year’s £37.6m – but have recorded record revenues with a record income of £92m.

The purchase of Darren Bent was included in these figures but not the sales of Ashley Young and Stewart Downing which occurred in June with the club’s chief financial officer Robin Russell things are on the improve at Villa Park despite the overall loss.

"Given the challenging economic environment that we have been experiencing in the West Midlands and indeed globally, we are pleased with the positive trends in our financial performance," Russell said.

"The board of Aston Villa are confident that the actions taken since the end of the 2010-11 financial year have galvanised the long-term sustainability of the club and have also given us a better financial platform on which to build for future success.

"Our objectives are to compete strongly on the pitch and to achieve sustainability as well as compliance with UEFA's Financial Fair Play requirements."

 

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