Aston Villa’s Europa League-winning side is already beginning to break apart.
Villa ended a 30-year wait for silverware by beating Freiburg to lift the Europa League in May, but as many as six players from the starting XI could be sold before the transfer window closes.
Ezri Konsa’s imminent £51m move to Arsenal is the latest major departure from Villa Park, with Unai Emery facing one of the biggest rebuilds of his tenure.
Youri Tielemans and Morgan Rogers, both goalscorers in the Istanbul final, left last month. Rogers joined Chelsea in a record £117m deal for an English player, while Lucas Digne completed a move to Paris St-Germain.
Villa must also resolve Emi Martinez’s future after his proposed Juventus move collapsed and the club signed goalkeeper Zion Suzuki as a replacement option.
Al-Hilal could yet return with another offer for Ollie Watkins before the 1 September deadline, despite Villa reportedly offering the England striker a new contract.
If Watkins also leaves, only Matty Cash, Pau Torres, Victor Lindelof, John McGinn and Emi Buendia would remain from the team that started the Europa League final.
Villa’s transfer activity is being driven largely by financial necessity.
The club must comply with Uefa’s squad cost ratio rules, which limit spending on wages, transfer fees and agent costs to 70% of football-related revenue. Villa have already received two Uefa sanctions for breaches, including a £9.5m fine last year and a £19.4m penalty in June, although £12.9m of the latest punishment was suspended under a settlement agreement.
The Premier League’s previous Profit and Sustainability Rules also restricted clubs to maximum losses of £105m over a three-year period. While those rules have now been replaced by the squad cost ratio model, Villa’s recent financial record explains why sales have become essential.
Villa reported a post-tax profit of £17m in accounts ending June 2025, but had posted losses of £119.6m in 2023 and £85.4m in 2024.
A former Villa executive told BBC Sport that the scale of the squad overhaul is a consequence of financial restrictions and player demand.
“It’s necessity because of the rules,” they said. “Some will be forced due to PSR, some will be player demand. Combined, it makes a big problem for Emery.”
Villa have raised significant funds through player trading in recent seasons.
Over the past two years, the club generated just over £200m from the sales of Jhon Duran for £71m, Douglas Luiz for £42.5m, Jacob Ramsey for £40m and Moussa Diaby for £50m.
Once Konsa’s Arsenal move is completed, Villa are expected to bank around £212m during this transfer window. That figure includes £9m from Lewis Dobbin’s move to Southampton, despite the winger never making a senior appearance for Villa.
The academy has also been an important source of revenue. Jaden Philogene and Cameron Archer were both bought back before being sold again, while Burnley paid £12m for Aaron Ramsey in 2023.
Villa recognised internally, following their return to the Champions League in 2024, that pathways for academy players would become more limited. That made player sales a more realistic and necessary strategy.
Villa’s spending power still falls short of the Premier League’s biggest clubs.
Their gross transfer spend last summer was £71m, considerably lower than Manchester City, Chelsea and Arsenal, who each spent more than £200m. Even Wolves, who finished bottom of the league last season, spent £109m.
It reinforces Emery’s belief that Villa are not yet operating among English football’s elite. The club spent months pursuing Conor Gallagher, only for Tottenham to complete the signing in January.
Rogers’ £117m Chelsea transfer was particularly important in helping Villa meet Uefa’s financial requirements. Under their settlement plan, Villa must break even during the 2026-27 season.
Their Champions League quarter-final run in 2024-25 generated close to £70m and was the main reason Villa were able to post a profit in their latest accounts.
Winning the Europa League has guaranteed Villa around £45.6m, including the minimum income secured through qualification for next season’s Champions League.
Despite the departures, there remains confidence at Villa Park.
Villa’s determined Super Cup defeat to Paris St-Germain in Salzburg demonstrated that Emery’s side can still compete at the highest level. The Spaniard has repeatedly adapted during his three-and-a-half years at the club, having taken charge when Villa were 14th after Steven Gerrard’s departure.
Captain John McGinn believes the club’s structure and Emery’s leadership remain strong foundations, particularly while rivals Manchester City, Liverpool and Chelsea adjust to new managers.
“We have a structure in place, standards and rules which have made us a success,” said McGinn. “I am really excited about the new Aston Villa.”
Villa’s new-look squad includes 17-year-old striker Brian Madjo, who scored on his debut against PSG after the club won its battle with Fifa to register him. The former Metz forward, signed for £10m eight months ago, could be one of the season’s breakthrough players.
The move towards younger signings has accelerated since Roberto Olabe replaced Monchi as president of football operations last September, with a long-term transfer strategy now in place.
Joao Gomes, 25, goalkeeper Zion Suzuki, 23, and defender Matteo Ruggeri, 24, have joined this summer, following the £10m arrival of 20-year-old Johan Manzambi in July, a club-record signing.
Villa have also had an £18m bid rejected for Southampton defender Taylor Harwood-Bellis, 24.
The loan signing of Alejandro Garnacho from Chelsea, with an obligation to buy, allows Villa to spread the cost of the deal. Aaron Wan-Bissaka is also expected to join from West Ham under a similar arrangement.
However, Villa’s ability to complete further business may depend on other transfers taking place first.
Emery remains the central figure in Villa’s ambitions. He has rebuilt the club before, but replacing so many key players from a trophy-winning side would represent one of his most demanding challenges yet.
