Aston Villa owner Tony Xia is prepared to sell the club with two interested parties keen on buying a majority stake in the Championship side.

Failure to win promotion to the Premier League last season left the West Midlands side in a dire financial situation that came to light following a missed payment meant HMRC served them with a winding-up order earlier in the month.

Since then, Villa's future has been in doubt, with Xia keen on securing £40m from outside investors without having to relinquish control of the club.

However, that, perhaps unsurprisingly, hasn't happened and Birmingham Live are reporting that the Chinese businessman is now considering selling the club, with two serious bidders at the table.

They report that Xia rejected an offer for 51% of the club yesterday but that further offers are likely from the two interested parties, who would look to take control or purchase the club outright. And, they also claim a deal may not take too long to complete.

As well as that, an American group are also thought to be monitoring the situation but have yet to make an offer.

The Verdict

This is huge news for Villa and probably something the fans expected as clearly things couldn't go on as they were.

Xia has explored other avenues but it seems as though he has been left with no choice but to sell and it looks as if it will be in the best interests of the club.

Obviously, with the potential buyers still unknown, supporters are sure to be worried about who could take over but details about them will emerge in the coming weeks.

Thoughts, Villa fans? Let us know in the comments below.