Aston Villa FC have today announced that the club has received a cash injection from NSWE - a firm owned and controlled by Egyptian businessman Nassef Sawiris through his NNS group. Businessman Wes Edens is also involved.
The club state that a significant amount of money has been pushed into the club. The transaction and cash injection has been approved by the EFL but has not yet been finalised - but this is being worked on as we speak.
There was rumour that NNS were backed by Qatari capital - however this is hard to believe as relations between Qatar and Egypt have been severed - owing to a blockade of Qatar.
This also means that Tony Xia will remain on the board of the club as co-chairman. Xia, of course, remains humbled by the experience. The club were seeking finance to pay outstanding and imminent bills, including tax payments.
Edens and Sawiris commented that they can ‘help strengthen the club, and help it return to it’s rightful place at the the top of English football’.
There was also a small comment about strengthening the squad and pushing forward.
There we have it - Aston Villa have received cash, Tony Xia remains in power - slightly, and we move forward. Currently, I have no idea if this affects the Jack Grealish sale, or the sale of James Chester to Stoke. Again, we’ll have to wait and see.
We’ve been doing a lot of that recently.