Aston Villa’s finances have been dealt another blow with the news that they owe John Terry £560,000 in wages unless he finds another club this summer, according to the Telegraph.
Villa reached an agreement with HMRC to delay a £4m payment last week, but another is due at the end of this week and club owner Tony Xia may have to sell shares to produce the necessary funds.
Terry announced that he would leave Villa following their play off final defeat to Fulham last month and his contract officially expires at the end of June, although he is entitled to another month’s pay for July.
Terry was earning £70,000 a week during his one season at Villa Park, so these two months add up to £560,000 in additional wages on top of what has already been paid to the former England captain.
However, the July salary will only be relevant if Terry remains a free agent or retires, so Villa are hoping that he will find a new club.
It has been reported that Villa could find themselves unable to pay staff members at the end of this month, a situation that Tottenham are hoping to take advantage of in their pursuit of Jack Grealish.
Villa also need £40m in order to comply with Financial Fair Play regulations, as their business model was based on the gamble that they would get promoted to the Premier League.
Gabriel Agbonlahor, Christopher Samba and Mark Bunn are also out of contract this month and will be owed severance pay unless they find new clubs, although none of their wages on are on the same level as Terry’s.