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Aston Villa still in the red after 拢37.3m loss as they plan stadium expansion

Progress for club as losses reduce despite huge rise in revenue fuelled by hike in broadcasting deal

Aston Villa have slashed losses but remain in the red(Image: Birmingham Mail)

Aston Villa have slashed their losses but remain in the red as the club battles back from the impact of the covid-19 pandemic.

Newly published accounts for 2020-21 show the club finished the year with a pre-tax loss of £37.3 million, down from a loss of £99.4 million in the previous 12 months.

This was despite revenue rising dramatically in the period to May 31, 2021, up to £183.6 million from £112.6 million a year earlier.

Villa's owners Nassef Sawiris and Wes Edens, who bought the club in 2018, have also injected £97 million into the business to shore up its finances after a year of disruption caused by the pandemic.

The news comes as the club says it intends to boost the fan capacity of its Villa Park stadium by at least 7,000 people to more than 50,000 by building a new North Stand.

It also wants to upgrade and increase corporate hospitality as part of previously published plans to regenerate the ground and create an entirely new venue to bring retail and merchandising activities together.

The annual financial report for Villa's parent company NSWE 海角视频 says the club was boosted by finishing 11th in the Premier League table, a climb of six places on the previous season, with more than £100 million spent on new signings including Emi Martinez and Ollie Watkins.