Chinese businessman Dr Tony Xia is now owner of UK football team, Aston Villa. [File Photo]

Chinese businessman Dr Tony Xia finalised the purchase of UK football team Aston Villa on June 14, 2016. Xia bought the recently relegated team for £76m (US$106m) from former owner, American Randy Lerner, who bought the team for £62.6m in 2006.

Xia is CEO of Recon Group, a privately owned company with controlling interest in publicly listed companies on the Chinese stock exchanges. Aston Villa is a Midlands team who were recently relegated from the English Premier League.

Aston Villa fell out of the Premier League this year after a poor season in which they finished last. During the season, the team won only three matches.

On Monday, Xia announced on his Weibo account that he had formally completed the fit-and-proper-person test. The test ensures that a person buying a company, or purchasing more than 30 percent shares, has the qualifications and skills necessary for the relevant office.

Now that Xia has been vetted for the position, all that remains is for the club to make its official announcement.

Xia has named former Chelsea-manager Roberto di Matteo as the new team manager. Di Matteo succeeds Remi Garde, who left the club in March 2016. He was appointed to the position only five months before but failed to take the club to safety.

Xia is likely to give the new manager between £30m and £40m for new players, and to rebuild a winning team.

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