Aston Villa have announced the latest accounts for the financial year ending in May 2020.
The Coronavirus pandemic has had an impact on all clubs throughout the league and it is no different at Villa Park with the club announcing a financial loss of £99.2 million for the Covid-hit season.
In a statement on the club’s website the impact of the pandemic was announced with the club recording £36.1 million of lost revenue after suspension and subsequent restart of the Premier League season behind closed doors.
However, despite the losses, the statement confirmed that “the operating loss and all capital investment has been funded by shareholder equity” and “Aston Villa remains debt free”.
The club also confirmed that Villa did not use the government furlough scheme for any member of staff, including casual matchday workers.
A ‘long-term plan to improve’ Villa Park was also mentioned in the statement with designs being formulated to expand the stadium in coming years.
Following the release of the statement, Villa fans took to social media with many heaping praise on club owners Nassef Sawiris and Wes Edens on how they have coped with the Covid pandemic while also overseeing the development of the club.
Here is what just some had to say…
James : Kings. Long may their leadership continue #avfc
The Religion – AVFC : NSWE… we thank you, without your input we arguably wouldn’t be here. But to be debt free, expanding VP, improving on and off the pitch, I couldn’t ask for more. #AVFC #LoveMyClub
In our daily Aston Villa bulletin, we’ll be bringing you the latest breaking news, transfer features and comment pieces, as well as the key talking points for fans.
How do you sign up?
It’s easy and only takes seconds.
Simply type your email address into the box at the top of this article and hit sign up.
And that’s it, you’re all set. You can also sign up here.
If you decide later that you no longer wish to receive the emails, simply follow the unsubscribe link in one of the newsletters – but we don’t think you’ll want to.
And what’s more, it’s absolutely free!
You can also get all the latest updates by following us on social media here Facebook and Twitter.
We also have a free app which you can download. It is always up-to-date with the latest news from across the region. Google Play Store and App Store
Chris Jennings : All this and didn’t furlough any staff either. Bravo to the owners and everyone involved with the club #avfc #utv
Brian Meer : Can’t stress how grateful I am we have these as our owners… Debt free & soon to be expanding Villa Park!!! Thank you Wes Edens & Nassef Sawiris #avfc
Wazza : No debt.
No staff cuts or public money used during pandemic
Massive investment in squad
Massive investment in infrastructure
Big plans for ground and academy
Up the NSWE
Up the Villa
Ross Buet : “Aston Villa remains debt free”
That’s it.. that’s the tweet #AVFC
Christopher Franklin : Our owners are genuinely different class #avfc