Aston Villa are reportedly facing the prospect of going into administration due to a winding-up order from HMRC.
Villa yesterday suspended chief executive Keith Wyness with immediate effect, announcing that owner Dr Tony Xia would take over the day-to-day running of the club.
However, Sky Sports News now reports that Xia faces a battle to keep the club out of the hands of administrators, which could result in a 12-point deduction at the start of next season.
Villa have made a substantial investment in trying to return to the Premier League since their relegation in 2016, spending more than £70m in transfers in addition to wages far above the Championship average.
Xia has officially insisted that the club is not for sale, but reports have suggested that he is attempting to bring in new investors and would be prepared to sell in a cut-price deal.
The report also claims that Villa have been seeking insolvency advice for more than a week following their defeat in the Championship playoff final at Wembley.
Villa have spent just 14 years outside the top flight during their 144-year history and were one of the founding members of the Football League.
