The next step in Aston Villa's progress is clear and Nassef Sawiris knows it
Aston Villa's president of business operations, Francesco Calvo
Aston Villa's president of business operations, Francesco Calvo
You’d struggle to find an Aston Villa fan who isn’t confident the club can qualify for European football every season under Unai Emery.
That’s the plan: to play in Europe every year. But Villa’s aspirational goal is to qualify for UEFA’s premier competition - the Champions League.
After getting a taste of it last season, Villa will be determined to return in 2026/27, either via their league finish or by winning the Europa League.
It’s a competition Emery has won four times, including three consecutive titles with Sevilla before taking the job at Paris Saint-Germain.
He suffered a Europa League final defeat with Arsenal in 2019, but later lifted the trophy again with Villarreal a few years later.
Villa finished seventh in 2022/23 - a remarkable achievement considering their early-season struggles under Steven Gerrard. Emery then guided them as high as fourth the following campaign.
They came agonisingly close to Champions League qualification last season, ultimately finishing sixth after a controversial 2-0 defeat at Old Trafford.
On the pitch, Villa’s rise under Emery has been meteoric. Off it, however, the business side must catch up.
Chris Heck was appointed in spring 2023 to oversee business operations and tasked with increasing revenue streams.
Heck, an American executive, aimed to grow Villa’s revenue to £400 million by 2027 - comparable to clubs like AC Milan and Inter, but still around £100 million short of Chelsea, the lowest earners among the Premier League’s ‘big six.’
Earlier this week, it was revealed that Villa sold their women’s team to comply with the Premier League’s Profit and Sustainability Rules. However, UEFA’s financial controls also require Villa to reduce their wage bill - meaning further sales may be necessary.
There is a plan in place to avoid losing key players - although Emi Martínez, one of the club’s highest earners, could be an exception and may depart this summer.
Villa were also fined €11 million for breaching UEFA’s financial regulations, which relate spending directly to revenue.
Simply put, if Villa want to compete financially with the Premier League’s top clubs - many of whom spend freely regardless of on-pitch success - they must generate more income.
Enter Francesco Calvo, who replaced Heck this summer.
Calvo joined Villa after serving as Juventus’s Managing Director of Revenue and Football Development. He first joined Juventus in 2011 as Commercial Director, becoming Chief Revenue Officer in 2014. He later held the same role at Barcelona (2015–2018), then moved to AS Roma, where he became COO.
At Roma, Calvo worked closely with Monchi - now Villa’s President of Football Operations - and the two developed a strong professional relationship. Their reunion was seen as a bonus, but it was Calvo’s expertise in football business that made him the ideal candidate.
Upon Calvo’s appointment, Nassef Sawiris said: “We are pleased to welcome Francesco Calvo to Aston Villa. He has an outstanding track record at some of Europe’s biggest clubs and brings a huge amount of experience.
"Our ambition is for Aston Villa to be competing at the very top level in everything we do, both on and off the pitch. Francesco’s skills, relationships and experience will prove invaluable in making that ambition a reality.”
On Claret & Blue, John Townley explained the next crucial phase of Villa’s project.
“This might seem like a basic answer, but for me, there’s one clear priority going forward: Aston Villa have to increase their revenue.
"Yes, we keep saying this - but that’s because it’s true. While there are other areas that need attention, growing revenue is the solution to all of our problems.
"I see a lot of comments suggesting we should go younger - bring in young talent - and yes, we’ve been doing that and will continue to. But ultimately, we want to be a club that sustains success.
"Everyone at the club knows this. We’re not here just to enjoy a few good seasons and some memorable European nights. No - we want to win silverware. We want to compete consistently at the top of the Premier League.
"Reaching the Champions League quarter-finals isn’t the ceiling. We need to go further. That might sound ambitious - even daft - but think about it: if we had taken a couple more chances against PSG, and then played Arsenal over two legs, we could have been in the final. We weren’t far off - not last year.
"I’m trying to paint the picture clearly: this is serious. This is the reality under the new SCR (Squad Cost Ratio) rules. We need to be extremely vigilant - but not at the cost of sacrificing the entire project.
"Take Tottenham, for example. They’ve implemented a wage structure - smart. But you still have to pay top players well. Morgan Rogers is a good example: when we extended his contract in November, he wasn’t near the top earners, but if he continues to perform, we need the flexibility to reward that.
"What we can’t do is rely on selling a promising player like Rogers each summer just to stay afloat. Brighton’s recruitment model is brilliant - but they lack the commercial power to generate income outside of player sales.
"Villa have to be different. We need to be the club others look at and say, ‘Why are they making money from that?’ I don’t care if it’s a LEGO Villa Park - if it makes money, let’s go for it.
"Yes, we can reduce costs - especially the wage bill, which has been one of the highest in the league and across Europe. Clubs like Atlético Madrid and Dortmund have remained competitive with leaner budgets. It’s possible.
"But again, the priority is clear: maximise revenue. No pressure on Francesco Calvo - but his role is now one of the most important at the club. If we don’t grow our revenue, we’ll end up stuck again, constantly needing to cut costs.
"In modern football, ambition must be backed by money. Better players demand higher wages. As you rise - more prize money, more sponsorship, more pressure - your costs increase. The only sustainable path forward is to grow revenue at the same pace.”