Aston Villa to tighten purse strings after suffering losses in excess of £37m

01 March 2011 18:06
Aston Villa boss Gerard Houllier admits the club must manage their escalating wage bill, whilst remaining competitive on the pitch after suffering losses of more than ?37million for the year ending May 31, 2010.[LNB]The midlands club saw wages increase to almost ?80million last season - an increase of ?9million and they now account for 88 per cent of the club's ?90million turnover.[LNB]But Villa sources are confident they will comply with UEFA's financial fair play regulations by the time they are in force by the beginning of the 2013-2014 campaign.[LNB]The regulations will force clubs to live within their means, something Villa insist they are striving to achieve despite the backing of American owner Randy Lerner.[LNB] Concerned: Villa boss Houllier warns fans not to expect any more big spending[LNB] [LNB]Villa manager Gerard Houllier - who was made aware of the situation when he took charge nearly six months ago said,[LNB]''We probably need at the same stage to have a better balance between the salary (wage bill) and the turnover of the club.[LNB]'This is also part of my mission. It won't be done overnight, it will be done gradually and we've got a great academy as well.[LNB]'We want to maximise the potential of our academy and the facilities here are made for players to grow and improve.[LNB] High earners: Ashley Young (left) earns ?70,000-a-week at Villa, while ?24million man Darren Bent pockets around ?80,000-a-week[LNB] In January, John Carew, Steve Sidwell, Stephen Ireland and Curtis Davies - four high-profile players on substantial wages who have made minimal impact at Villa this season - were off-loaded.[LNB]Carew and Ireland made temporary moves to Stoke and Newcastle while Sidwell and Davies were sold to Fulham and Birmingham respectively.[LNB]The sources also pointed out that having an owner like Lerner is dissimilar to the situations at Manchester United and Liverpool where massive loans were taken out against the two clubs.[LNB]The US billionaire has injected ?115.6m in equity and another ?89.6m has come in through shareholder loans.[LNB]Increased turnover means Villa have become one of the top 20 earning clubs in Europe for the first time.[LNB]This included ?52million from television revenue while matchday turnover was ?24million and commercial income ?14.4million.[LNB] Sign me up! Pires wants to stay at Aston Villa for another seasonDowning stakes his claim for an England place in front of CapelloAll the latest Aston Villa news, features and opinion[LNB]  Explore more:People: John Carew, Gerard Houllier Places: Newcastle, Fulham, Birmingham, Liverpool, Ireland, Europe

Source: Daily_Mail