Aston Villa reveal record £120m loss: Here's what it means for summer transfer plans

Aston Villa have published their finances for 2023 and have confirmed a loss of just under £120 million, the highest in Europe according to UEFA.

Premier League rules say that clubs can lose a maximum of £105 million over a three-year period, meaning Villa's finances are significantly over.

The latest accounts show that wages rose by nearly £60 million, and £63.7 million was spent on new players.

Player contracts also increased by £10 million, despite £22 million made in player sales.

Even though the latest figures have left many Villains worried, the club say they feel confident that they're operating within the Premier League's spending rules.

The club said: "It is important to note that these figures are in line with the strategic business plan, and we continue to operate within the Premier League’s Profit and Sustainability rules.

"The owners of Aston Villa remain committed to the long-term and sustainable development of the Club, and we look forward to continued progress on the delivery of our strategic plan."

Villa's statement comes as other Premier League teams face points deductions for similar financial losses.

Everton currently have a points deduction for breaching Premier League rules, and Nottingham Forest are waiting to see if they share a similar fate.

In order to avoid a points deduction, fine or further inquiries there is speculation that Aston Villa may have to shop more selectively in the summer and sell some players in order to make up for losses.

The sale of academy graduate Jacob Ramsey, who was linked to Newcastle, would go a long way in balancing Villa's books. Or Douglas Luiz, who has been heavily linked with Arsenal, could make way.

Although fans will definitely not want to see the back of any of their squad, as Villa are flying this season, lying in fourth with four wins in their last five league games.

Despite their financial situation, Aston Villa's current form under Unai Emery can give fans hope, not only for the summer window but also for the rest of the season, with Villa firmly on track for their highest place premier league season since 2010.

Want a quick and expert briefing on the biggest news stories? Listen to our latest podcasts to find out What You Need To Know…