Sports News | Aston Villa Reports Loss of More Than USD 150M; Club Says It is Operating Within EPL Financial Rules
Get latest articles and stories on Sports at LatestLY. Aston Villa insisted the club is operating within the financial rules of the English Premier League despite reporting a loss of 119.6 million pounds (USD 151 million) in its latest accounts on Tuesday.
Birmingham (England), Mar 5 (AP) Aston Villa insisted the club is operating within the financial rules of the English Premier League despite reporting a loss of 119.6 million pounds (USD 151 million) in its latest accounts on Tuesday.
Those accounts are up to May 31 last year, covering a period when the team finished seventh in the league to qualify for the Europa Conference League.
Everton and Nottingham Forest have previously fallen foul of the Premier League's profit and sustainability rules, which permit losses of up to 105 million pounds (USD 133 million) over three years.
Everton has already received a six-point deduction — reduced from an initial 10 after an appeal — and could get another penalty along with Forest in the coming weeks.
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Villa made a profit of 300,000 pounds (USD 380,000) in its 2021-22 accounts and said the latest figures “are in line with the strategic business plan.”
Much of Villa's spending has come in infrastructure, its women's team and its academy and foundation, which can be deducted from the PSR figures.
Wages rose nearly 60 million pounds (USD 76 million) to 194.2 pounds (USD 246 million). (AP)
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)