Despite the takeover Villa are still expected to sell players this summer, with Jack Grealish, the midfielder, one of the most likely to leave

The billionaire businessmen Nassef Sawiris and Wes Edens bought majority control of Aston Villa from Tony Xia yesterday. The beleaguered former owner will stay at Villa Park as co-chairman.

The club would not confirm the size of the new investors’ stake, revealing only that their Egypt-based group NSWE would provide “significant investment”. But it is understood that they have acquired 55 per cent of Villa with a view to completing a full takeover.

Xia has been seeking fresh investment since the defeat in the Championship play-off final by Fulham in May, which precipitated a cash crisis. Villa are losing £5 million a month and need £70 million to meet their operating costs before next season.

Sawiris, whose family made their fortune in the construction business, is worth £5.2 billion MIKHAIL METZEL/TASS/ALAMY

The Chinese businessman was initially seeking to retain control —