Aston Villa announce losses of nearly £120m

Aston Villa have reported a loss of £119.6m in their latest accounts up to 31 May 2023.

The accounts cover a period that saw Villa finish seventh in the Premier League to qualify for Europe.

Villa say the figures are "in line with the strategic business plan" and within the Premier League's profit and sustainability rules.

PSR rules, introduced in 2015-16, permit losses of up to £105m in a three-year spell.

A statement read: "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."

Investments in infrastructure, the academy, charity foundation and women's football can be deducted from PSR figures. Clubs are also allowed to claim back losses incurred during the two seasons impacted by the Covid-19 pandemic.

Villa made a profit of £300,000 in their 2021-22 accounts, helped by the sale of England midfielder Jack Grealish to Manchester City for £100m.

The Midlands club saw an increase in revenue of £217.7m in 2022-23, up from £178.4m in the previous year.