Chinese tycoon scores with Aston Villa buy

Tony Xia paid £60 million for the under-achieving English football club, adding another deal to what looks set to be a record year for China outbound M&A.

It wasn’t the best season for Aston Villa. The 142 year-old football club had by far the lowest points total in the English Premier League but now it has been relegated perhaps it has scored its most important goal of the year  by getting a Chinese buyer.

On Thursday, former European champions Aston Villa announced that Chinese tycoon Tony Xia Jiantong has agreed to acquire the football club for 60 million $88 million, ending a decade of ownership by American businessman Randy Lerner.

The struggling football club has eventually landed in the hands of a Chinese owner as FinanceAsia predicted,...

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