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Birmingham Post
Birmingham Post
Business
Ben Husband & Dean Rudge

Aston Villa sells Villa Park in £56.7m deal

The home of Aston Villa has been sold to the club's owners in a £56.7 million deal.

Nassef Sawiris and Wes Edens have acquired the stadium via a group subsidiary company called NSWE Stadium which is under the direct control of the pair.

Mr Sawiris and Mr Edens bought Aston Villa in summer 2018 during a troubled financial period for club shortly after it missed out on promotion to the Premier League after losing the play off final to Fulham.

Land Registry documents seen by our sister website BirminghamLive confirm the sale of the stadium.

Aston Villa's main parent company Recon Group UK is controlled by the billionaires and a few weeks ago the company formerly known as Recon Football announced a name change to NSWE Stadium.

Villa Park could be redeveloped following the sale (Villa Park could be redeveloped following the sale)

And the paperwork reveals that on May 21, NSWE Stadium paid £56.7 million for the famous stadium in north Birmingham.

NSWE Stadium ceased to be controlled directly by Aston Villa and instead came under the direct control of Sawiris and Edens.

According to the accounts of Recon Group UK, Villa's losses totalled around £50 million for the two seasons 2016/17 and 2017/18.

In the most recent minutes of Villa's fan consultation group, chief executive Christian Purslow is quoted as saying: "Aston Villa's assets - the football club, stadium, training ground, academy, retail store etc are commonly owned by companies controlled by Nassef Sawiris and Wes Edens.

"The club and our owners have no intention whatsoever of selling the stadium to a third party."

This latest news comes after it emerged last week that Villa had lodged an application for planning permission to develop an area of Villa Park.

The proposals are to bulldoze the Villa Village to make way potentially for a hotel and museum.

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