Recon lands relegated Aston Villa

Chinese business executive Tony Jiantong Xia has bought English football team Aston Villa, the club announced on May 18, with the sale price a reported 60 to 70 million pounds ($87 million to $102 million; 78 million to 91 million euros).

This happened only days after the midlands club learned it was being relegated from the top-flight Premier League after a dismal season.

Although Sky News reported Xia, head of the Recon Group, had paid as much as 70 million pounds, the club wouldn't confirm the amount paid.

A club announcement said the sale, by American businessman Randy Lerner, was subject to clearance by the Premier League and the English Football Association.

Aston Villa was relegated to the championship, after winning only three games this season. Sky reported that former Chelsea player and manager Roberto Di Matteo was being tipped as the next Villa manager.

Xia's immediate aim was to get the club, of which he has been a lifelong supporter, back into the Premier League. He plans to make Aston Villa the most famous football club in China.

Recon Group is a privately owned holding company that controls five publicly listed companies in Hong Kong and the Chinese mainland, employing 35,000 people in 75 different countries and regions, according to Aston Villa's website.

Xia is described as a passionate football fan who played as a striker while he was at university. He has acquired Villa through his sports, leisure and tourism division.

Xia's move is the latest in a series of Chinese moves to invest in European football clubs.

Last year, a group of Chinese investors paid $400 million for a 13 percent stake in English club Manchester City, in the wake of a visit to its training facilities by President Xi Jinping.

In January last year, Wang Jianlin, the billionaire owner of Dalian Wanda Group, paid $52 million for a 20 percent stake in Spanish La Liga club Atletico Madrid, while in northern Italy, AC Milan, one of the country's top Serie A clubs, has said it is in exclusive talks with a group of Chinese investors to sell the club to the same company.

AC Milan is owned by former Italian premier Silvio Berlusconi's Fininvest Group, with Italian media saying he was seeking as much as 700 million euros ($786 million).

China has set improving the domestic football game as a major goal, and in October, Britain announced plans to invest money and expertise in Chinese domestic football programs.

Last year, China Central Television started showing English Premier League games after a gap of several years.

Contact the writer at chris@mail.chinadailyuk.com