Aston Villa manager Tim Sherwood has revealed that talks between the club and a potential buyer have collapsed.

American chairman Randy Lerner was said to be in talks with a consortium regarding a £150m takeover, but a deal failed to get over the line.

Back in May, a group of investors led by former Chelsea business director Paul Smith approached Villa about buying the Premier League club.

"I think it's dead now, to be honest," Sky Sports News quotes Sherwood as saying. "It was fairly live, but I think the people who were talking are now not there.

"The chairman is picking it up and running with it now. I'm not sure if anyone is too close now. Until it's done it's never there."

Lerner put the Midlands outfit up for sale in May 2014.