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Aston Villa changed hands again in June 2016 when American Randy Lerner sold out to new Chinese owner Tony Xia for £76m

Aston Villa have reported an £81m loss for the financial year 2015-16, the season in which they were relegated from the Premier League, prior to Dr Tony Xia's summer takeover.

According to a club statement, Villa's operating loss trebled from £26.6m in 2014-15, while turnover fell from £115.7m to £108.8m.

Villa's average home gates were hardly affected despite such a poor season.

The drop in revenue is attributed to a smaller share of Premier League money.

Villa's average home league attendance in 2015-16 was 33,690, a fall of only 1.33 % on the previous campaign, when they averaged 34,133 at their 42,660-capacity Birmingham home.

But finishing bottom last season, compared to 17th the year before, that meant a smaller share of the pay-out from the Premier League's broadcasting agreements.

What exactly are Villa's assets?

The club put £79.6m of the £81m loss down to "exceptional items" including the "impairment of tangible fixed assets and intangible assets".

Intangible assets, which include the value of its players' registrations, dropped by £34.8m.

Tangible assets include property and equipment the club owns.

The impact of Dr Tony Xia's takeover of the club for £76m will not show until the 2016-17 accounts are published next year.

The new Villa owner completed his takeover on 14 June 2016, two months after the Football League and Premier League co-founders' first relegation in 30 years.

Operating losses before tax in the last six financial years before this one (back to 2009-10) were successively: £38m, £54m, £18m, £52m, £4m and £27m.

That adds up to pre-tax total losses over the last seven financial years of £274m.