Aston Villa owner Randy Lerner insists he will not go down the route of Manchester United and Liverpool and plunge the West Midlands club into debt in order to fund another summer spending spree for Martin O’Neill.
Speaking to the media for the first time in 18 months, Lerner revealed that O’Neill’s transfer kitty will be reduced from the £40million he splashed in the closed season last year.
The news will come as a blow to Villa fans hopeful that American billionaire Lerner would continue to fund the pursuit of Champions League football after having had their appetites whetted by the club’s stay in the top four this season.
But while admitting breaking into the Champions league places remains the aim, Lerner called on all connected with the club to be patient and admitted that future transfer activity would have to be funded by money generated by the club itself – with plans afoot to expand Villa Park capcity to 50,000 – rather than handouts.
Asked whether O’Neill’s transfer kitty would match that of previous seasons, Lerner replied:
“Probably not. I would expect to invest less this summer than last summer. When we set out to build up the club we probably expected year four to mean more modest spending than in year three. With respect to the squad, that is what the manager does. With respect to the finances, it is about building the business and trying to generate more of the funding that strengthens the squad from internal operations which means we are increasingly conscious of not adding debt.”
Lerner also expressed confidence that Barry would sign a new contract with Villa despite his desire to play for a side in the Champions League, before revealing he would be prepared to let his contract – which has 12 months remaining – run down and lose him on free rather than cash in this summer.
Lerner added:
“Am I optimistic? Yes, I am. We have discussed a new contract with him. Am I happy for him to wind down? I think that’s his decision but if it means he’s staying another year, then absolutely I’m happy. Even though Villa would lose £10-£12 million? Yes, absolutely. You are talking about a player who is an integral part of your potential success. I would give Gareth Barry the highest ranking you could give. He’s the best. He’s a gentleman, he’s a great player. He’s a pleasure to be around. He’s a leader and a captain. I am prepared to do what is necessary to make sense for this club.”
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