Aston Villa will hold crunch talks over their financial crisis this week, with the Championship club under pressure to slash their wage bill by up to £15m.

Villa have staved off the imminent threat of administration but are still facing further turmoil as they attempt to fall in line with Financial Fair Play rules.

It can be revealed that later this month the troubled Midlanders will be hit with another £4.5m bill – comprising tax and wages - which beleaguered owner Dr Tony Xia must pay or risk the threat of another winding-up order.

Xia, the Chinese businessman, secured a number of loans late last week to save Villa from possible administration, reaching an agreement with HMRC, but the club’s financial worries are mounting.

Villa want to drastically cut their £45m wage bill this summer to avoid the prospect of a fine or even transfer embargo, increasing uncertainty over the futures of players including Jack Grealish and James Chester.

Club chiefs want it significantly lowered to around £30m and, ideally, would prefer to offload fringe players such as Micah Richards, Ross McCormack and Henri Lansbury.

Next season’s budget and the summer strategy will be discussed in a meeting on Monday with technical director Steve Round, chief commercial officer Luke Organ, director Tracy Gu and executive assistant Rongtian He.