Aston Villa show losses of more than £81m for last financial year
By PA Sport
Last Updated: 27/02/17 5:55pm
Aston Villa recorded a loss of over £81m for the last financial year, according to the club's latest accounts.
The figures for the 2015/16 period show that with an operating loss of £81.3m the deficit more than trebled, up from £26.6m, before Villa were relegated from the Premier League.
The club's statement states losses of £79.6m due to "exceptional items" but provides little explanation as to what these are, other than to say "for the impairment of tangible fixed assets and intangible assets".
Turnover fell from £115.7m in 2014/15 to £108.8m, with the club attributing the drop in revenue to a reduction in their share of money from the FA Premier League's broadcasting agreements as a result of the final league standings.
Villa were relegated from the Premier League for the first time last season after finishing bottom of the table and are playing outside of the top flight for the first time in 30 years.
Dr Tony Xia completed his takeover of the club on June 14, 2016 so any figures associated with his purchase will not show until the 2016/17 accounts are published.