Newly promoted Premier League side Aston Villa have owned their stadium since 1896. But now, reports on the Express and Star have revealed that the club have sold their stadium for £56.7million to their club owners, Nassef Sawiris and Wes Edens.
The ground is now owned by NSWE Stadium Ltd, which is directed by Sawiris and Edens. The two potentially saved Villa from major financial problems in July 2018 when they became majority shareholders.
Now the two have likely bought the stadium as part of a deal which will primarily make sure that Villa obey with the EFL’s rules regarding profit and sustainability.
Selling of stadiums has previously been knocked by others and people have thought of it as exploitation. When Derby sold their stadium to owner Mel Morris, which seems similar to Villa’s selling of their stadium, Middlesbrough chairman Steve Gibson said they had exploited a loophole in the regulations.
However it has been assured that Villa understand the rules and they have not broken any regulations.
