Chinese businessman Tony Xia has bought popular English football club Aston Villa for an estimated $87 to $107 million pounds. The deal comes just few weeks after the Midlands-based club was relegated from top flight Premiership, earning just 17 points from last season.  

Aston Villa has confirmed the sale of the club on its official website. The club did not reveal the exact amount of the transaction. The deal is, however, subject to clearance by the English Football Association.

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Tony Xia is head of Recon Group, a privately-owned group, that has an interest in various businesses across China and Hong Kong. According to Aston Villa, the group has controlling a stake in five publicly listed companies in China and Hong Kong. The group employs nearly 75,000 people across 75 countries.

Xia has announced several tentative plans for his new club, including names of few shortlisted managers.   

Among the shortlisted managers, former Chelsea manager Roberto Di Matteo has emerged as the frontrunner in the race.    

"Roberto was one of the choices. He has been very good in the Championship and he did very well in the Premier League," Xia told BBC.

Di Matteo propelled Chelsea to Champions league glory in 2012, before helping relegated West Bromwich Albion into the top flight premiership in the 2010-11 season.         

Xia's Recon Group is the latest Chinese company to buy a stake in a popular European football club. Last year, a group of Chinese investors paid an estimated $400 million for a 13 percent stake in English premier club Manchester City. Chinese billionaire Wang Jianling also bought a 20 percent stake in Spanish club Atletico Madrid for an estimated $52 million.    

Meanwhile, there are reports that several Chinese investors are reportedly interested in buying a controlling stake in Italian football giant A/C Milan.

TagsAston Villa, Tony Xia, china, Chinese football, Football in China