Aston Villa have reportedly reached an agreement with the tax authorities to stave off the immediate threat of administration.
The Championship club suspended chief executive Keith Wyness with immediate effect on Tuesday, announcing that owner Dr Tony Xia would take over the day-to-day running of the club.
Multiple reports had suggested that Villa were at risk of facing an HMRC winding-up order, with the prospect of administration a real possibility, due to huge investment in player wages and more than £70m in transfers in just two seasons
According to Sky Sports News, however, HMRC is content with an arrangement whereby the club pays £1.2m by the end of this week - around half of the money it owes in unpaid tax - after an immediate payment of £500,000 was made earlier today.
The report goes on to claim that, as a result, HMRC has shelved its plans to issue legal proceedings against Villa, via a winding-up order in the High Court.
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.
