Aston Villa settle tax bill but financial concerns remain

Ryan Shotton of Middlesbrough battles for possession with Alan Hutton of Aston Villa during the Sky Bet Championship Play Off Semi Final second leg match between Aston Villa and

Xia rethinks funding after Aston Villa's play-off loss misses out on £160m payday

The cash-strapped midlands club are determined they will not be held to ransom, Press Association Sport understands.

The 22-year-old is valued at £40m with Tottenham, Leicester and West Ham all interested, but who else could be sold amid the financial crisis?

It had been claimed that HRMC has issued a winding up order against Aston Villa after the club missed a tax payment, but the Championship side have been given a period of a week to make the payment to avoid facing the order.

He has not yet been categorically told he will be sold but that appears the most likely outcome, with a bidding war Villa's best chance of getting the top price.

James Chester has also been linked with a move and full-back Alan Hutton is expected to depart when his contract expires at the end of the month as the club cuts costs.

Villa have arranged a plan with HMRC to pay off a £4.2m tax debt but they still face a huge challenge to balance the books after failure in the Championship play-offs.

Villa's bosses decided against paying a total bill of around £20,000 for suits for the showpiece event at Wembley, which Fulham won 1-0 to gain promotion back to the Premier League.

The latest statement is a move to reassure Villa fans that administration is not an immediate prospect and the situation with HMRC has, for the time being, been dealt with.

The outstanding amount is then likely to be sent swiftly, ensuring administration is not an immediate threat.

"Owner and Chairman, Dr Tony Xia will assume the role until further notice".

Tony Xia's valuation; Xia would like bids of at least £100 million, but he understands the situation surrounding the club now.

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