Aston Villa lost $85 million last season

Updated: February 28, 2012, 7:08 PM ET
Associated Press

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 by The Associated Press