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Tony Xia (no longer involved with AVFC)


Vancvillan

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What a total mess these guys have made of this club -

One was promotion to the Premier League, the other staying right where Villa were, in the Championship.

Xia received the news. Didn't blink. Didn't move a muscle. Did not utter one single word.

The three-minute silence was eventually broken by Rongtien He, Xia's eyes and ears at Villa Park.

The result of that meeting led Wyness to confess later to a high-level colleague: “Anything other than promotion is not an option.”

By the time the final whistle blew at Wembley, the chief executive knew that he had to act. He had to take action as per his fiduciary duties as a director of the club.

Late last week, with the club's payroll due on Friday, Wyness was on the phone, trying to raise the cash to pay it.

Burnley were contacted. Villa were due another chunk of money from Ashley Westwood's £5m transfer later this month.

They took a hit but the money turned up and the staff were paid. Wyness knew that this could not keep going indefinitely.

Any director who has an inkling that the club is trading insolvently must take advice. That was incumbent upon him.

As a director, he could also put the club into administration. It was that which has led Xia to trashing Wyness's reputation after Villa released a statement suspending their chief executive yesterday afternoon.

 

https://www.mirror.co.uk/sport/football/news/inside-story-behind-aston-villa-12655774

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12 minutes ago, JAMAICAN-VILLAN said:

- Dedicated to everyone calling him a fraud, he has been bankrolling the bloody club himself for 2 years while we have been hemorrhaging money.

"Aston Villa owner, Dr Tony Xia, has been bankrolling the former European Champions from the moment he set foot inside Villa Park.

Each month, money would arrive from China, into Villa's bank account to make good the shortfall in normal trading operations.

That has happened, without fail, for the past two years."

https://www.mirror.co.uk/sport/football/news/inside-story-behind-aston-villa-12655774

So the claim via The Mirror is that Villa have been making an operational loss of £60-70 million a year for the last two years?

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12 minutes ago, MikeMcKenna said:

The number of £4.2 million in back taxes has been bandied about. However, it could be that the total money needed is significantly greater to meet running costs, players wages, bank interest. I would not be surprised if Xia needs at least £12-14 million to pay off the tax due and cover costs for the close season.

I fear we are going into liquidation unless a white knight rides up!

Administration in the worse case scenario for me .

liquidation means the club ceases to be and would no longer be in the football league - that’s not going to happen 

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This seems nasty and whatever the finer details there has obviously been a lack of trust and integrity amidst.

I think those pointing out that the truth of our situation is yet to reveal itself have a very valid point.

Those refraining from casting blame or judgement without more evidence or facts are doing the club a favour by keeping things in perspective.

There has been a considerable lack of success in any form for us recently, so it's refreshing that some supporters are at least practicing sound judgement.

 

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3 minutes ago, Eastie said:

What a total mess these guys have made of this club -

One was promotion to the Premier League, the other staying right where Villa were, in the Championship.

Xia received the news. Didn't blink. Didn't move a muscle. Did not utter one single word.

The three-minute silence was eventually broken by Rongtien He, Xia's eyes and ears at Villa Park.

The result of that meeting led Wyness to confess later to a high-level colleague: “Anything other than promotion is not an option.”

By the time the final whistle blew at Wembley, the chief executive knew that he had to act. He had to take action as per his fiduciary duties as a director of the club.

Late last week, with the club's payroll due on Friday, Wyness was on the phone, trying to raise the cash to pay it.

Burnley were contacted. Villa were due another chunk of money from Ashley Westwood's £5m transfer later this month.

They took a hit but the money turned up and the staff were paid. Wyness knew that this could not keep going indefinitely.

Any director who has an inkling that the club is trading insolvently must take advice. That was incumbent upon him.

As a director, he could also put the club into administration. It was that which has led Xia to trashing Wyness's reputation after Villa released a statement suspending their chief executive yesterday afternoon.

 

https://www.mirror.co.uk/sport/football/news/inside-story-behind-aston-villa-12655774

This sounds like it came from Wyness himself. lol

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2 minutes ago, Eastie said:

Administration in the worse case scenario for me .

liquidation means the club ceases to be and would no longer be in the football league - that’s not going to happen 

wHY ?

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16 minutes ago, JAMAICAN-VILLAN said:

- Dedicated to everyone calling him a fraud, he has been bankrolling the bloody club himself for 2 years while we have been hemorrhaging money.

"Aston Villa owner, Dr Tony Xia, has been bankrolling the former European Champions from the moment he set foot inside Villa Park.

Each month, money would arrive from China, into Villa's bank account to make good the shortfall in normal trading operations.

That has happened, without fail, for the past two years."

https://www.mirror.co.uk/sport/football/news/inside-story-behind-aston-villa-12655774

You seem to be on a crusade.

 Ill pick up where we got to last night.....evidence ( actual evidence as opposed to newspaper stories ) ?

Ill repeat, ive no idea whether hes a Prince or Pauper, i cettainly hope its the former, but weve seen no evidence.

Blimey, if whats happened isnt enough to make people cautious in beliving anything they resd i dont know what will.

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4 minutes ago, snowychap said:

So the claim via The Mirror is that Villa have been making an operational loss of £60-70 million a year for the last two years?

That doesn't tally with this:

Quote

Aston Villa’s group accounts for the year ended 31st May 2017 show turnover of £73.8m, a fall of £35.0m compared to the year ended 31st May 2016. 

The fall in turnover can be primarily attributed to the Club’s relegation from the Premier League at the end of the 2015/16 season. 

Operating expenses reduced by £30.3m to £114.9m for the year ended 31st May 2017 compared to £145.2m for the previous year. 

The accounts show a profit on disposal of player registrations of £26.6m. The loss for the financial year was £14.5m. 

This compares to a loss of £80.7m for the year ended 31st May 2016 which included a charge of £79.6m for exceptional items.

 

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1 minute ago, hippo said:

wHY ?

As cheesy as this sounds, and cliche.

This is the ONE thing I think we are too "big" for this to happen to.

We mean too much to the foundation of Football.

Then again I could have never foreseen any of this happening in a million years (our current situation)

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1 minute ago, hippo said:

wHY ?

Because we have assets that would easily pay all our debts, and we're not going to get liquidated just because of a few measly (in football terms) £5m bills.

 

3 minutes ago, A'Villan said:

This seems nasty and whatever the finer details there has obviously been a lack of trust and integrity amidst.

I think those pointing out that the truth of our situation is yet to reveal itself have a very valid point.

Those refraining from casting blame or judgement without more evidence or facts are doing the club a favour by keeping things in perspective.

There has been a considerable lack of success in any form for us recently, so it's refreshing that some supporters are at least practicing sound judgement.

 

These are the posts I enjoy the most. Reasoned, fair and responsible, despite the current shitstorm that seems to be heading our way.

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2 minutes ago, hippo said:

wHY ?

Somebody will take the club on , even in this financial mess there will be interested parties in villa . 

‘It could be a long haul back from here though and a few years before we are in a position to challenge for promotion . 

‘Patience will be required .

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2 minutes ago, JAMAICAN-VILLAN said:

As cheesy as this sounds, and cliche.

This is the ONE thing I think we are too "big" for this to happen to.

We mean too much to the foundation of Football.

Then again I could have never foreseen any of this happening in a million years (our current situation)

Well when were relegated only xia was prepared to pay £60m.

now someone has to clear a debt of £70m  + any purchase price ....and the clock is ticking !

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3 minutes ago, terrytini said:

You seem to be on a crusade.

 Ill pick up where we got to last night.....evidence ( actual evidence as opposed to newspaper stories ) ?

Ill repeat, ive no idea whether hes a Prince or Pauper, i cettainly hope its the former, but weve seen no evidence.

Blimey, if whats happened isnt enough to make people cautious in beliving anything they resd i dont know what

will.

Not on a crusade, just sharing the stories as they come in, and adding my 2 cents as to because it is what I believe.

I genuinely believe his intentions were noble.

As for all the other stuff who knows.

HOWEVER, if these are lies, it would be easy to knock back via facts.

So if he has been bankrolling the club, and transferring money from China to make up for losses, that is Black and White, not hearsay. It would be in the accounts.

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50 minutes ago, Deisler123 said:

I mentioned a few times that I believe Xia has little cash now to spend on Villa, which is worrying. If you think that is me saying 'everything is going to all right', then sure, whatever.

Yes, that is the exact word I think applies to this situation. Funny. 

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Where are you Dr Tony?  Where are your oh so amusing tweets with countless cryptic emojis?  Where  are your soothing words about staying strong, having belief, continuing to fight?  WHERE ARE YOU??

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1 hour ago, snowychap said:
1 hour ago, snowychap said:

So the claim via The Mirror is that Villa have been making an operational loss of £60-70 million a year for the last two years?

That doesn't tally with this:

 

However, whilst it isn't £5-£6 million a month for yr ended 31/05/17, it's still £47m for that year according to this tweet and the cashflow statement for that year:

 

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