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Commercial Property

Aston Villa sells Villa Park in £56.7m deal

Club's owners have bought the stadium via a subsidiary company as rumours increase of a major renovation project

Aston Villa's owners have bought the club's stadium Villa Park

The home of Aston Villa has been sold to the club's owners in a £56.7 million deal.

Nassef Sawiris and Wes Edens have acquired the stadium via a group subsidiary company called NSWE Stadium which is under the direct control of the pair.

Mr Sawiris and Mr Edens bought Aston Villa in summer 2018 during a troubled financial period for club shortly after it missed out on promotion to the Premier League after losing the play off final to Fulham.

Land Registry documents seen by our sister website BirminghamLive confirm the sale of the stadium.

Aston Villa's main parent company Recon Group º£½ÇÊÓÆµ is controlled by the billionaires and a few weeks ago the company formerly known as Recon Football announced a name change to NSWE Stadium.

Villa Park could be redeveloped following the sale

And the paperwork reveals that on May 21, NSWE Stadium paid £56.7 million for the famous stadium in north Birmingham.

NSWE Stadium ceased to be controlled directly by Aston Villa and instead came under the direct control of Sawiris and Edens.

According to the accounts of Recon Group º£½ÇÊÓÆµ, Villa's losses totalled around £50 million for the two seasons 2016/17 and 2017/18.