Aston Villa announce £53.9m loss for 2010-11 financial yearAston Villa bosses insist they are
satisfied with the club's financial position despite announcing annual losses of almost £54m.
It does not include money raised from the sales of England wingers Ashley Young and Stewart Downing last June.
Villa revealed total income had increased by 1.3% to a record £92m.
Chief financial officer Robin Russell said: "Given the challenging economic environment we're pleased with positive trends in our financial performance."
Villa confirmed the overall loss for the year up to 31 May 2011 represents an increase from £37.6m.
The figure includes the record £24m transfer fee spent to bring England striker Darren Bent to Villa Park in January last year.
The financial statement also showed Villa's commercial income had increased by 15.9% year on year.
The Birmingham club spent £12m on changes in the football management staff, while American owner Randy Lerner invested £25m. There was an £8.3m reduction in bank borrowings.
Russell added: "The board of Aston Villa are confident that the actions taken since the end of the 2010-11 financial year have galvanised the long-term sustainability of the club and have also given us a better financial platform on which to build for future success.
"Our objectives are to compete strongly on the pitch and to achieve sustainability as well as compliance with Uefa's Financial Fair Play requirements."
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http://www.bbc.co.uk/sport/0/football/17197269...
and the Bosses say they are satisfied