Aston Villa’s former chairman Randy Lerner will receive £30million after the club won promotion to the Premier League following their win over Derby County at Wembley on Monday.
The payment relates to Lerner’s sale of the club to Chinese billionaire Dr Tony Xia when Villa were relegated in 2016, which included a ‘three-year promotion bonus’.
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Lerner will receive £30m after Aston Villa won promotion
Xia paid an initial £76.2m for the club and a clause was included stating that Lerner, who took control of Villa in 2006, would be paid an extra £30m, if the club achieved promotion back to the top-flight in the desired time frame.
Lerner will also be given a further £10m if Villa avoid the drop in their first campaign back.
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However, that amount, plus the £6m bonus the players will get for winning promotion, is small change for Villa who won the match dubbed ‘the richest in football.’
Deloitte’s Sports Business Group has forecast that promotion to the Premier League is worth £170m over the next three years, and more than £300m over five years if the club is successful against relegation in the first season.
Goals either side of half-time from Anwar El Ghazi and John McGinn put Villa firmly in control, but Jack Marriott’s strike in the 81st minute, which was deflected by Martyn Waghorn, ensured a nervy finish for Dean Smith’s side who held on for victory.
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Villa have ended their three-year exile from the top-flight
Businessmen Nassef Sawiris and Wes Edens spoke to Jim White following Monday’s play-off final victory, and said they plan to build Villa into ‘one of the best clubs in the world’.
Speaking to Jim White after the final whistle, the Sawiris said: “I still can’t believe we’re in the Premier League.
“I’m still getting the thought through my mind. This is the second best feeling since my daughter was born!
“This is why I came into English football. I’m a very bad loser, everybody who knows me knows that I hate losing, so we’re here to win.
“Dean and the squad were amazing, they had belief, and the fans were great.
“And with such a great fanbase, the sky is the limit!”
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