Tony Xia open letter on Villa Website

[VillaRosie]

Our owner has posted an open letter to fans on Villa Website which he hopes will clarify the happenings at VP over the passed weeks.

It is rather long but hang on in there, points 1-15 make interesting reading.







Dear supporter,

Firstly, I would like to thank you for your patience during what has been an uncertain period on and off the pitch for the club. Losing out on promotion to the Premier League was a disappointment to us all – not least you, the fans, whose support took us to the brink of promotion.

I would like to apologise for the lack of communication in recent weeks. This has been largely as a consequence of the many business decisions that have been required to be taken as the implications of losing the play-off final become a reality that we must face.

I am now in a position to provide a comprehensive update on the club’s situation in the hope that we can continue our preparation for the season ahead with renewed focus and determination.

For the avoidance of doubt, I remain a proud and committed owner of this football club and with that accept and embrace the responsibilities to the fans, players and staff.

In recent weeks there have been changes at senior management level and these changes have been made with the intention of establishing a focused, calculated approach.

Of course, given the financial realities, it would be prudent of us to be open and receptive to any potential minority strategic investment that would aid our objectives to consolidate after a tumultuous summer and ultimately achieve our ambition of returning to the Premier League. We will be very selective in any discussions to ensure that the club’s best interests remain the focal point.

Having assumed the role of acting CEO, I have been working closely with the senior management team to improve efficiency and effectiveness. A more measured approach will enable us to overcome the implications of Financial Fair Play after two years of significant investment in the football department. We need to generate sufficient revenue to ensure the smooth-running of the club without compromising the standards of this great institution.

With that comes a reality check over performance and expectation for the season ahead but also the opportunity to work smartly in the transfer market, bring through young talent and draw on the experience of our manager.

I have had numerous conversations with Steve Bruce in recent weeks, which only reinforced how fortunate we are to have someone of his experience and standing in the game. His leadership will be important for us on the field, as a club and as a community and I thank him for his loyalty.

These qualities will be essential as we begin a new season with the fresh hope and expectation it inevitably brings. While we would never want to compromise our ambitions, we must however be prepared to do so in a measured and realistic manner, hence the necessary business decisions I have outlined.

Lastly, I am aware that there are a number of stories being written about the club and to be definitive I would like it to be known that:

1. I have not put the club up for sale

2. I would consider minority investment stakes that bring strategic value to the club to help us achieve our goals but this will be considered extremely carefully

3. I have not received an offer of 51%

4. I have received an offer of 30% but we did not believe there was strategic value and we did not know the source of the money

5. We have been approached numerous times and we have turned away numerous approaches

6. FFP is a burden and we need to work within the defined parameters over the course of the next 12 months and beyond and as we have done in the previous 12 months

7. To be clear, to meet FFP we need to player trade. No shareholding sale of any size will contribute to meeting FFP. We must reduce costs and increase revenue

8. Selling any size of shareholding in the club will not aid in respect to FFP

9. Steve Bruce remains in charge with my support

10. There is significant football experience within our playing department and our football administration team who will be supported by the club admin team

11. I have made significant investments into the club and all loans provided up to 31st May have now been converted into equity as part of the club’s compliance with FFP rules

12. We are bank loan free but continue to evaluate opportunities to create sensible solutions with regards to financing as is common in most business practises

13. The EFL have shown no concern over the ‘lack of football experience within the club’

14. Work continues at pace at the Recon Training Complex as a result of the HS2 project

15. Work continues on the pitch at Villa Park and is on schedule

I would like to once again thank you for all your support.

Dr Tony Xia

[bongosdad]

Good news. We need stability with x and Bruce. Ok we might loose a few players but the squad still should be competitive still next season. We just need to be smart in the transfer window.

[TrianonDave]

For me it is quite Clear. Dr Xia did not write this, he can only11 converse in criptic messages!
Wyness now Round have left for a reason. Just like Deadly and l1erner did, get ready for a fire sale of anything belonging to the club. He wants to recoup money then sell the club. He aint going to sell and leave behind the crown jewells.
Ive said many a time, he is hiding behing the FFP because he can put his own money in rather than generating it. He does not want investors meddling in his plan and wont sell till we have a deal for BMH from SS2, the like of Grealish, kodija and Chester are sold once he has recouoed around 50million from tbat lot he will sell for around 75million for sure. All he is doing at the minute is survining on loans to pay by the month. This is desperate and we should all be very worried. Xia is a con man and gambled on winning promotiin to the premier league.
He has been found out big time. Just how on earth was he goibg to make us the best in europe? Tell people what they want to hear and they will love you, tell the truth and they hate you!

Once the deals are done he will sell and it will prob be on the eve of the new season. Relegation to Div one is a real possibility.

We have all been had....

[picasso]

I get the impression you’re slightly pessimistic Dave.

I’m clinging on to the hope that because Bruce has not walked away like he did at Hull suggests there might still be something of value left from the debris. Fingers crossed.

[TrianonDave]

Maybe but i dint think going in to a new season witg fingers crossed is what this needs!
Im hearing an American consortium offered Xia £1 to buy the club out right so he could walk away debt free as the deal would involve them clearing total debts of £75million.
Why cant xia put money in why is it always loans?
He Will sell up, he has no choice!

[westcountryvillain]

There certainly doesn't seem to be many reasons to be cheerful where AVFC are concerned and I would have to ask myself why, if I had millions to invest, would I take such a huge risk. No point throwing good money after bad when you know you're going to lose it - Dave is right that we could end up in League 1 by selling our player assets. I can't see Bruce having the nous to develop the bright young things in our U-23's so perhaps he is being retained until the transfer window closes due to his contacts in the game as we will need a few older heads.

The WC is a welcome distraction for the media, once it's all over then the pressure will intensify - it can't be good going into a season with so much uncertainty.

[samhubball]

Sorry but Dave is spot on in my opinion. The owner is a conman. He raised just enough money to buy the club but he doesn't have any fund himself. He is not a billionaire. He is a gambler and he risks putting our club into administration.

He is a liar and a cowboy. They always say be careful what you wish for. We wanted deadly out, we wanted Lerner out and this is what we got.

Utter ****

[TrianonDave]

The honeymoon is over, he snores and farts in bed and she has found CC bill which sums up what she feared, hes been lying and has no money, its all been a sham so Divorce is the only Answer. Xia will sell up once he has fleeced the club of our best players and BMH.
When Lerner left just who had the Money from Benteke and Sky plus 79 million ??
Xia is not just going to walk away. Whatever money he put in he will want back.

[bongosdad]

I doubt x is making any sort of profit. He's been putting millions of his own cash so if he walks away debt free he's still lost ahead loads. As long as the changes are not to drastic we will be ok and it might be a blessing if we need to use the youth. Have faith

[westcountryvillain]

There's faith Bong and then there's blind faith.

Dave - I recall Lerner being owed a vast sum by the club, was that part of the deal when sold? The wage bill has also been massive, I think in the past you've put some financially savvy posts on here so what's your thoughts pal?