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Aston Villa to be granted summer transfer war chest by new owner?

Tony Xia is ready to put his money where his mouth is.

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*Please note that this article has been edited as Reuters have confirmed Villa's transfer budget from the mouth of the new owner himself.

We're not even twenty-four hours removed from Tony Xia's takeover of Aston Villa FC and yet the first reports of his transfer plans are surfacing.

L'Equipe are reporting that Villa's new owner is prepared to spend 50 million euros (£38 million) in order to get Villa back into the top tier of English football. This is where Xia needs Villa if he's to come through on his goal of making Villa the most popular club in China, as they would then be competing with Manchester United and A.C. Milan who are massive favourites in the Far East.

Reuters have confirmed the figure that Xia plans to spend as in between £30-40 million. He says this himself.

There's a precedent for overseas owners spending big in the lower leagues of English football - Bournemouth and QPR are two teams that have done so to opposite degrees of success.

And obviously, that £38 million doesn't need to be spent wisely, if it exists at all: