Aston Villa have reached an agreement with Her Majesty’s Revenue and Customs over a £4million tax bill.
The agreement will allow the Sky Bet Championship club, who missed out on a Premier League return after losing to Fulham in the play-off final at Wembley, to continue day-to-day operations.
Villa have also announced that there are “no insolvency practitioners or administration advisors working with the club”.
A statement from the club added: “Owner and chairman Dr Tony Xia would like to take this opportunity to sincerely thank supporters during this difficult and unsettling time and reassure them plans are now being put in place to move the club forward.”
Earlier, Xia wrote on his personal Twitter account: “It has been very difficult 2 weeks as I hinted earlier I was almost heartbroken by something. Tried my best to keep beloved AV move forward. Thanks for all ppl standing together going through the difficult time. It was all supporters’ encouraging words to keep me/us stronger.”
Jack Grealish is Villa’s best option of raising a quick lump sum of cash as they look for £40million to comply with Financial Fair Play rules.