By Harry Sykes

Aston Villa will be handed an £87million windfall despite their impending relegation to the Premier League, according to a report.

The Midlands giants are tumbling out of the English top flight at its most lucrative time as they count the cost of missing out on a big slice of the mammoth new broadcasting deal.

But Villa, who announced job cuts on Monday night as they prepare for life in the second tier, will be handed huge parachute payments to soften the blow.

Under the new system clubs demoted from the top flight will be handed Premier League payments for up to three seasons following relegation, save for if they have only been in the Premier League for one season, when they will receive two years of payments.

The Birmingham Mail estimate that Villa would get £87million in parachute payments were they to remain in the Championship for three seasons.

In season one they would get £40million, followed by £33million the following year and then £14million the year after that.

By contrast, and although the exact figures have yet to be confirmed, the indications are Premier League clubs will get around £100million broadcast cash per season from the start of 2016/17 campaign.

By the calculations of the Birmingham Mail, if Villa remain in the Championship they will get less than a third of what their Premier League peers will receive – around £90million in total as opposed to nearer to £300million.

In other Aston Villa news, Harry Redknapp has named the one player from the club who he expects Premier League clubs to be interested in over the summer.