Aston Villa to reduce wage bill after posting £37m loss

Aston Villa are aiming to manage their escalating wage bill while remaining competitive on the pitch after suffering losses of more than £37million for the year ending May 31, 2010.

The midlands club saw wages increase to almost £80million last season - an increase of £9million and they now account for 88% of the club's £90million turnover.

But Villa sources are confident they will comply with UEFA's financial fair play regulations by the time they are in force by the beginning of the 2013-2014 campaign.

The regulations will force clubs to live within their means, something Villa insist they are striving to achieve despite the backing of American owner Randy Lerner.

Villa manager Gerard Houllier was made aware of the situation when he took charge nearly six months ago.

The aim is not to reduce the number of quality players at his disposal but to trim the squad to ensure those on sizeable wages while making little meaningful contribution are moved on.

In January, John Carew, Steve Sidwell, Stephen Ireland and Curtis Davies - four high-profile players on substantial wages who have made minimal impact at Villa this season - were off-loaded.

Carew and Ireland made temporary moves to Stoke and Newcastle while Sidwell and Davies were sold to Fulham and Birmingham respectively.

The sources also pointed out that having an owner like Lerner is dissimilar to the situations at Manchester United and Liverpool where massive loans were taken out against the two clubs.

The US billionaire has injected £115.6m in equity and another £89.6m has come in through shareholder loans.

Increased turnover means Villa have become one of the top 20 earning clubs in Europe for the first time.

This included £52million from television revenue while matchday turnover was £24million and commercial income £14.4million.



Have you tried new the Independent Digital Edition apps?
Caption competition
Caption competition
Latest stories from i100
Have you tried new the Independent Digital Edition apps?

Bleacher Report

Daily Quiz
SPONSORED FEATURES
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

Day In a Page

Migrant crisis: UN official Philippe Douste-Blazy reveals the harrowing sights he encountered among refugees arriving on Lampedusa

‘Can we really just turn away?’

Dead bodies, men drowning, women miscarrying – a senior UN figure on the horrors he has witnessed among migrants arriving on Lampedusa, and urges politicians not to underestimate our caring nature
Nine of Syria and Iraq's 10 world heritage sites are in danger as Isis ravages centuries of history

Nine of Syria and Iraq's 10 world heritage sites are in danger...

... and not just because of Isis vandalism
Girl on a Plane: An exclusive extract of the novelisation inspired by the 1970 Palestinian fighters hijack

Girl on a Plane

An exclusive extract of the novelisation inspired by the 1970 Palestinian fighters hijack
Why Frederick Forsyth's spying days could spell disaster for today's journalists

Why Frederick Forsyth's spying days could spell disaster for today's journalists

The author of 'The Day of the Jackal' has revealed he spied for MI6 while a foreign correspondent
Markus Persson: If being that rich is so bad, why not just give it all away?

That's a bit rich

The billionaire inventor of computer game Minecraft says he is bored, lonely and isolated by his vast wealth. If it’s that bad, says Simon Kelner, why not just give it all away?
Euro 2016: Chris Coleman on course to end half a century of hurt for Wales

Coleman on course to end half a century of hurt for Wales

Wales last qualified for major tournament in 1958 but after several near misses the current crop can book place at Euro 2016 and end all the indifference
Rugby World Cup 2015: The tournament's forgotten XV

Forgotten XV of the rugby World Cup

Now the squads are out, Chris Hewett picks a side of stars who missed the cut
A groundbreaking study of 'Britain's Atlantis' long buried at the bottom of the North Sea could revolutionise how we see our prehistoric past

Britain's Atlantis

Scientific study beneath North Sea could revolutionise how we see the past
The Queen has 'done and said nothing that anybody will remember,' says Starkey

The Queen has 'done and said nothing that anybody will remember'

David Starkey's assessment
Oliver Sacks said his life has been 'an enormous privilege and adventure'

'An enormous privilege and adventure'

Oliver Sacks writing about his life
'Gibraltar is British, and it is going to stay British forever'

'Gibraltar is British, and it is going to stay British forever'

The Rock's Chief Minister hits back at Spanish government's 'lies'
Britain is still addicted to 'dirty coal'

Britain still addicted to 'dirty' coal

Biggest energy suppliers are more dependent on fossil fuel than a decade ago
Orthorexia nervosa: How becoming obsessed with healthy eating can lead to malnutrition

Orthorexia nervosa

How becoming obsessed with healthy eating can lead to malnutrition
Lady Chatterley is not obscene, says TV director

Lady Chatterley’s Lover

Director Jed Mercurio on why DH Lawrence's novel 'is not an obscene story'
Farmers in tropical forests are training ants to kill off bigger pests

Set a pest to catch a pest

Farmers in tropical forests are training ants to kill off bigger pests