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Aston Villa Owners Reduce Losses For '16-17 Season

League Championship side Aston Villa's owner, Tony Xia's Recon Group U.K., made a loss of £14.5M for the '16-17 season, according to the BBC. That is a "significant reduction" on the £80.7M loss in Villa's Premier League relegation campaign in '15-16, its final season before previous Owner Randy Lerner sold the club to Xia. Villa's total wage and salary bill (including all staff, not just players) fell from £81.6M to £53.5M. Turnover was reduced from £108.8M to £73.8M, "a fall of about a third." The accounts also showed a "hugely-reduced net outlay" on transfers of £3M, compared to £60.5M the year before (BBC, 2/16).

EVERTON ACCOUNTS: INSIDE WORLD FOOTBALL's David Owen reported EPL side Everton’s record £30.62M post-tax profit "would have been even higher" but for £7M of exceptional interest related to settlement fees on the early repayment of long-term debt. The club's accounts for the year to May 31, 2017 revealed that, with an operating loss pitched at £12.3M, the "bumper profit was mainly due to a hefty" £51.9M profit on player trading. A "feature of the year" was the use of a £105M interest-free loan -- since increased to £150M -- from a company controlled by major shareholder Farhad Moshiri, the Iranian businessman who bought a 49.9% stake in the club two years ago, to repay interest-bearing loans (INSIDE WORLD FOOTBALL, 2/18).

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