 The arrival of a new owner in Lerner and of manager Martin O 'Neill marked the start of a new period of optimism at Villa Park and sweeping changes occurred throughout the club including a new badge , a new kit sponsor and team changes in the summer of 2007 . The first Cup final of the Lerner era came in 2010 when Villa were beaten 2 – 1 in the League Cup Final . Villa made a second trip to Wembley in that season losing 3 – 0 to Chelsea in the FA Cup semifinal . Just five days before the opening day of the 2010 – 11 season , O 'Neill resigned as manager with immediate effect . The club appointed Gérard Houllier as a replacement in September 2010 , but he stepped down on 1 June 2011 due to ill @-@ health . Houllier was replaced by Birmingham City manager Alex McLeish , despite numerous protests from fans against his appointment ; this was the first time that a manager had moved directly from Birmingham to Villa . McLeish 's contract was terminated at the end of the 2011 – 12 season after Villa finished in 16th place , only just above the relegation zone . On 2 July 2012 , Aston Villa confirmed the appointment of former Norwich City manager Paul Lambert as the replacement for McLeish . On 28 February 2012 , the club announced a financial loss of £ 53 @.@ 9 million . Lerner put the club up for sale on 12 May 2014 , with an estimated value of £ 200 million . With Lerner still on board , in the 2014 – 15 season Aston Villa scored just 12 goals in 25 league games , the lowest in Premier League history , and Lambert was sacked on 11 February 2015 . Tim Sherwood succeeded him , and saved Aston Villa from relegation while also leading them to the 2015 FA Cup Final , but he was sacked in the 2015 – 16 season , as was his successor <unk> <unk> . Eric Black took temporary charge of the team , but was not able to prevent Villa from being relegated for the first time since 1987 . On 2 June 2016 , Roberto Di <unk> was announced as the club 's new manager . 
