Aston Villa owner Randy Lerner has said in a statement that he intends to sell the Premier League club.
"Now is the time for me to look for new ownership and thus new leadership," Lerner said, adding that Bank of America Merrill Lynch has been hired to advise on the sale.
The American owner was widely expected to make a significant statement after confirming last month that he would clarify his own future at the club at the season's end.
Villa concluded the 2013-14 campaign with a 3-0 defeat at Tottenham yesterday to finish in 15th place in the league, five points above the relegation zone.
Thomas Hitzlsperger's former club Aston Villa has praised him after the ex-footballer announced he was gay:
Everyone who knows Thomas from his time here at Villa has great respect for him, not only as the fine player he was but also as a man. (1/3)
His statement today is a straightforward statement and, along with our support as a club, we hope that everyone involved in the game...(2/3)
...extend to him their support as well. (3/3)
Prince William's ambition to persuade his son George to follow Aston Villa could see the future King join a powerful set of supporters of the Midlands team.
The Duke of Cambridge has vowed to take Prince George to watch his beloved football team, Aston Villa, at Villa Park in the future.Read the full story ›
Two men, aged 25 and 27, have been arrested after a flare hit a linesman during the Premier League match between Aston Villa and Tottenham Hotspur at Villa Park, West Midlands Police have said.
Television replays showed a missile being fired from the away section after Andros Townsend's first-half opening goal in Spurs' 2-0 away win.
An assistant referee has been struck by a flare fired from the away section during the first half of the Premier League match between Aston Villa and Tottenham Hotspur at Villa Park.
David Bryan was hit by the flare as Spurs fans celebrated the game's opening goal, which was scored by England winger Andros Townsend in the 31st minute.
Aston Villa have confirmed that Christian Benteke has withdrawn his transfer request and agreed a contract extension through to 2017 with the club.
Aston Villa captain Stiliyan Petrov, who has been suffering from acute leukaemia, has announced his retirement from football on the club's website.
Writing on the club's website, the Bulgarian said he would be starting a foundation to help people diagnosed with the disease.
"That I am ready to embrace new challenges will make this process much easier," he said.
"Since being diagnosed with acute leukaemia in March 2012, I have come to understand and appreciate the way in which this disease impacts the lives of so many people."
"My leukaemia is now in remission and I have finished my high intensity treatment," he added.
A gallery of the key moments in the second leg of the League Cup semi-finalRead the full story ›
Bradford MP George Galloway tweeted: