Aston Villa are reportedly set to meet with the Football League next week to discuss the financial situation of the Championship club.

Villa have been threatened with administration this month having lost out on the £200m prize money of promotion to the Premier League, after building up an unrealistically high wage bill while also being sued by former chief executive Keith Wyness.

According to The Telegraph, EFL chief executive Shaun Harvey has scheduled talks with owner Tony Xia to see a business plan for next season that allows the club to stick to its financial agreements.

The report adds that Villa want to cut their wage bill to £30m after holding a meeting on Tuesday; however, Clarets boss Steve Bruce was not present.

It was reported earlier this week that Bruce could depart the club of his own accord due to the tight transfer restrictions this summer.