Aston Villa FC, who have been relegated to the English Football League for next season, are reportedly close to finalizing “a £100million sale to a Chinese investment group”, according to British newspaper the Mirror.

The report, cited from Neil Moxley of the Sunday People, claims that the Birmingham club will be taken over by new (Chinese) owners within the next two weeks.

Despite that Villa Chairman Steve Hollis recently claimed that talks were still in progress, Sunday People Sport understands the two parties are close to reaching a conclusion for the equity exchange.

The Chinese investors, who had spent the whole of last week at the club, are understood to be venture capitalists. People from the private equity firm have studied the success of Leicester City and have high hopes to make some money from the investment “with the right people in charge of the club”.

Aston Villa areat the bottom of the 2015/2016 English Premier League table and will start the new season in the Championship. The club’s current owner Randy Lerner has suffered £275m losses after being in charge of the club for a decade.

Source: The Mirror

Proofread by Sean O Diobhilin.