Aston Villa issue £30m in new shares to clear debts – Kieran Maguire
Aston Villa have issued new shares of £30million in order to clear debts owed by the football club, according to financial expert Kieran Maguire.
The club’s owners allotted the new shares on 27 July with the receipt received for filing by Her Majesty’s Revenue and Customs on 19 August.
The new influx in cash should mean that the Villans no longer have any outstanding debts to pay elsewhere in the very near future as the owners try to make funds available for Steven Gerrard to spend.
The former England captain still has work he wants to do in the transfer window but he needs the funds to make them happen and this is one way to ensure they can be used.
Aston Villa have already made five signings this summer in Philippe Coutinho, Diego Carlos, Robin Olsen, Boubacar Kamara and Ludwig Augustinsson.
More to come
After the opening day nightmare at Bournemouth, where Villa were beaten 2-0 by the newly-promoted Cherries, Gerrard will be keen to make some new additions to his side.
There could still be outgoings too but it is no secret that the performance at the Vitality Stadium was not up to the standard expected and it can’t happen again.
Another combative midfielder might not go a miss after a rather passive display on the South Coast and some excitement on the wings would also go down well if the right player can be found.
There was a lot of excitement coming into the 2022-23 season that Gerrard could lead Aston Villa to a sensational season but the buoyancy has been drained from some supporters after the opening day reality check.
These extra shares should make the manager’s job that little bit easier when trying to sign players with the financial pressure lifted off his shoulders.
In other Aston Villa news, The Athletic shared an update on the situation with former captain Tyrone Mings after a turbulent couple of weeks.