Stefan Borson: This is why Aston Villa are still restricted after record-breaking update
Aston Villa have made great strides on the pitch after competing in European football in each of the past three campaigns.
Football Insider previously revealed Villa’s revenue had surpassed £350million for the first time last season following their exploits in the Champions League.
That has been backed up by figures released in Deloitte’s 2026 Money League, where it reported Villa posted a new club-record revenue last season, with their turnover increasing from £276m in 2023-24 to £378m.
It comes after Villa banked around £70m in prize money from the Champions League, having reached the quarter-finals of the competition before being knocked out by eventual winners PSG.
However, questions have been asked about why Unai Emery’s side remain restrained in the transfer market following their strong financial results.
How Aston Villa’s Uefa settlement is impacting their transfer plans
Former Man City financial adviser Stefan Borson exclusively told Football Insider Villa’s settlement agreement with Uefa and failing to qualify for the Champions League again are the key reasons behind their issues in the transfer market.
Villa were fined £9.5m by Uefa in July for breaching the governing body’s financial rules, with the potential of a further £12.9m penalty if they fail to comply in a three-year period.
Speaking exclusively to Football Insider about why Villa are restricted in the transfer market, Borson said: “Well, firstly because they’re not in the Champions League this season.
“I mean, if they’d have been in the Champions League this season, then you can put two years together where you’re making good returns.
“I think the first thing is they’re under a Uefa settlement, so they breached both football earnings and also the squad cost control ratio with Uefa. That naturally limits what they can do because they’ve agreed a way forward with Uefa.”
How much will Aston Villa earn from the Europa League?
Villa are favourites to win the Europa League this season, but the competition will be worth significantly less to them financially than the Champions League.
“The Europa League is going to be worth something like £60m less this season, and frankly, that’s probably even if they get to the final,” said Borson.
“Clearly, they can close it the more they do, so the more they sell out games. The more they push the prices of Europa League games to be the same as Champions League games and sell out if they do that, then of course, they will get closer and closer to the Champions League revenue.
“But ultimately, the prize money is still a fraction of what it would be in the Champions League. You’re talking about a third prize money-wise, like for like, stage by stage, game by game.
“But you would think Villa will get very close to the final and they’ve obviously got a lot of points in the first segment, so that will mitigate the hit.”
Meanwhile, Villa are well placed to secure a return to the Champions League for next season, with Emery’s side currently sitting third in the Premier League table.
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