Aston Villa Sign King As League Drop Beckons

Aston Villa has announced the signing of a former governor of the Bank of England as it battles to avoid relegation from the Premier League.

Just a few days after the transfer window closed, the loss-making club owned by American sports tycoon Randy Lerner confirmed Lord King of Lothbury would take a seat on its board of directors.

He is a life-long fan - with other famous supporters of the team including Prince William and David Cameron.

They would all have good reason to feel disappointed with the 2015/16 campaign.

The club is 10-points from league safety, having only won two of its 24 games and it failed to land any new players in the January window.

The problems have left fans voicing anger towards the club - with some calling for Lerner to sell.

Aston Villa's losses have averaged £50m over each of the past two financial years.

It (Other OTC: ITGL - news) said Lord King - who was handed his peerage following the end of his tenure at the Bank - had a "deep understanding of the club and the role that it plays in the lives of its many loyal supporters.

"He has always taken a close interest in the workings of the club and adds to the Board a strong, well-informed point of view which will be invaluable as we look to take the club forward."

Chairman Steve Hollis added: "I was delighted when Mervyn agreed to join the Board. His dedicated support for the club is well known.

"Mervyn successfully steered the Bank of England through the most turbulent economic headwinds in living memory and his appointment to the board is a huge boost as we plan our path back to more successful times."

Lord King said it was a privilege to be asked to serve as a director, having watched his first match at Villa Park more than 55 years ago.

"I shall do my best to help the rebuilding of Aston Villa Football Club as together we return it to its position as one of the top clubs in the world", he added.