Soccer-Aston Villa confirm significant losses in end of year accounts

Soccer Football - Premier League - Aston Villa v Fulham - Villa Park, Birmingham, Britain - April 25, 2023 General view as an Aston Villa flag is waved beside the pitch before the match Action Images via Reuters/Andrew Couldridge/File Photo

(Reuters) - Aston Villa confirmed a £119.6 million loss in their end of year accounts on Monday, despite a season that saw their return to European football after more than a decade.

The losses fuel concern around Villa's future transfer strategies amid the need to avoid running afoul of the league's tightened financial rules.

Profit and sustainability (PSR) regulations permit teams to lose a maximum of £105m over a three-year period, although investments in infrastructure, the academy, charity foundation and women's football can be deducted so teams are compliant with PSR rules.

"These figures are in line with the strategic business plan, and we continue to operate within the Premier League's Profit and Sustainability rules," the club said in a statement.

"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."

Aston Villa, who are currently on pace to play in the Champions League next season in fourth in the Premier League.

Villa reported an increase in revenue of £217.7m, up from £178.4m in the previous year

The PSR calculation also allows teams to deduct any losses due to COVID-19 costs during the two seasons impacted by the pandemic.

Everton were docked 10 points in November for violating the Premier League's profit and sustainability rules. The penalty was reduced to six points last week following an appeal.

The Merseyside squad face another potential points deduction after being charged with a separate breach of the league's financial rules in January, along with Nottingham Forest.

Manchester City are facing charges of more than 100 alleged breaches of finance rules.

Villa are in action on Thursday at Ajax in a Europa Conference League last-16 game, and then host Tottenham Hotspur in the Premier League on Sunday. They are five points ahead of fifth-placed Spurs although Tottenham have a game in hand.

(Reporting by Lori Ewing; Editing by Michael Perry)

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