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Aston Villa has revealed a loss of just over $151 million for the 2022/23 financial year. This window began on June 1, 2022, and ended on May 31, 2023. The West Midlands club finished seventh during this particular year, up from 14th in the previous campaign. They also qualified for the Europa Conference League as well, their first season in a European competition in 13 years.
The figures are somewhat alarming considering the Premier League‘s current spending laws in place. These profit and sustainability rules state that clubs cannot exceed about $133 million in losses over three years. Despite this, Villa has announced that their financial records are on track with their objectives.
“It is important to note that these figures are in line with the strategic business plan, and we continue to operate within the Premier League’s Profit and Sustainability rules,” claimed the club. “The owners of Aston Villa remain committed to the long-term and sustainable development of the Club, and we look forward to continued progress on the delivery of our strategic plan.”
Multiple Premier League sides have been charged with financial issues
Villa recorded a net spend of around $50 million on transfers during the 2022/23 season. This included fairly large deals for Diego Carlos ($33 million) and Philippe Coutinho ($21 million). The club also brought in Jhon Duran, Leander Dendoncker, and Alex Moreno as well. Nevertheless, Villa attempted to offset these deals by selling Carney Chukwuemeka, Matt Target, and Danny Ings.
Despite the precarious financial situation, the Birmingham-based team spent even more money in the transfer market during the current campaign. Villa racked up $85 million in net spend this season. This includes massive deals for Moussa Diaby and Pau Torres.
Along with losses on the rise, Villa’s wage bill is also expanding as well. The English team went from about $174 million in player wages in 2021/22 to $246 million during…
Source link : https://worldsoccertalk.com/news/aston-villa-claims-to-be-on-track-despite-151-million-loss-20240305-WST-493136.html
Author : Chris Moore
Publish date : 2024-03-05 17:26:15
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