Lerner out: Aston Villa sold to Chinese businessman in reported £60M deal

Randy Lerner has finally found someone to take over at Aston Villa. The Championship club was officially sold Wednesday to Recon Group, which is owned by Chinese businessman Dr. Tony Xia.

The deal, pending league approval, is reportedly worth £60 million.

"Once those approvals have been granted and the new board members approved under the fit and proper rules of both leagues, Dr. Xia will become Chairman of Aston Villa. The club will announce the appointment of a new manager shortly," Villa said in a statement.

Villa, relegated from the Premier League after a disastrous campaign that saw the Midlands side procure a mere 17 points - winning just three matches - had been available for two years as Lerner looked to offload the club he purchased 10 years ago for £62.2 million.

Of Xia, a striker in his younger days, Villa's statement says the following:

Dr. Xia played football as a striker until he finished at college and football has remained his passion. Dr. Xia decided to buy an iconic football Club in England as the cornerstone of his Sports, Leisure and Tourism Division. He became a fan of Aston Villa many years ago and is delighted at the opportunity to become the new owner.

Dr. Xia's immediate objective is to return Aston Villa to the Premier League and then to have the Club finish in the top six, bringing European football back to Villa Park. He plans to make Aston Villa the most famous football Club in China with a huge fan base.

Villa's been linked with Nigel Pearson as a prospective new manager, with former Chelsea man Roberto Di Matteo also thought to be in the running for the job at Villa Park.