Chinese investors The Rui Kang Group are on the verge of completing a £75 million takeover of English outfit Aston Villa, according to reports from the Daily Mirror.
It has been clear for quite a while that Aston Villa owner Randy Lerner is no longer interested in the club and the American businessman has been actively looking to sell the Midlands based outfit over the past few years.
Recently, it was reported that Lerner was involved in advanced talks with Chinese investors The Rui Kang Group as well as Oracle founder Larry Ellison over a potential sale of Villa.
Now in a further development to the story, the Daily Mirror has revealed that The Rui Kang Group have made a breakthrough in the negotiations ahead of Ellison and are on the verge of sealing a £75 million takeover of the club.
Rui Kang is a Hong-Kong based cosmetic and pharmaceutical company owned by the Chinese government and they were reported to be interested in purchasing Villa last year, but were unable to do so due to the Chinese Stock Market crash.
Nonetheless, Rui Kang appear to have persisted with their interest and upon the expected completion of the takeover this summer, the company allegedly plans to appoint Damien Comolli as the technical director and Nigel Pearson as manager of the club.
The news may come as a boost to Villa fans after a dismal season that has seen them relegated to the Championship. The investment a new board may bring could play a vital part in ensuring Villa bounce straight back instead of settling in the second tier.