Aston Villa owner Randy Lerner is believed to have decided to put his club up for sale following the final match day of the Premier League, Daily Mail reports.
The American tycoon took over the club back in 2006 for around £62.6 million after coming to agreements with the then Villa boardroom.
In a statement on the club’s website, Lerner said: “I have engaged Bank of America Merrill Lynch to advise on the sale of Aston Villa.
“I have come to know well that fates are fickle in the business of English football. And I feel that I have pushed mine well past the limit”
The English side did not have the best season as Paul Lambert’s men finished only five points above the drop zone in 15th place.
Lerner earlier admitted that he would come out to inform the public on his decision regarding his and the club’s future in the summer, and it looks as though this is about time.
However the future of current Villa manager Paul Lambert is not under question, as the team will now be bracing themselves for a takeover from potential new owners.