updated 5:49 p.m. ET Feb. 28, 2012
LONDON - Aston Villa had a record loss of $85 million last season as the American-owned club's fortunes tumbled.
After three years in the top six, Randy Lerner's Villa finished ninth last season and is currently 15th in the Premier League.
Villa's commercial income was a record 92 million pounds ($146 million) in the year ending last May 31.
But losses rose by more than 40 percent to 53.9 million pounds ($85 million) as a result of paying 18 million pounds (then $29 million) to sign forward Darren Bent in January 2011 and 12 million pounds ($19 million) in compensation for coaching changes.
Villa says Lerner, who also owns NFL's Cleveland Browns, invested another 25 million pounds ($40 million) in the club in the last financial year.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Source: http://nbcsports.msnbc.com/id/46563069/ns/sports-soccer/
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