Aston Villa owner Randy Lerner

Aston Villa have poured cold water on reports that have suggested Martin O'Neill has fallen out with owner Randy Lerner over proposed future transfer budgets.

The beaten Carling Cup finalists are still in with a chance of FA Cup glory this season and are ticking along nicely in the league as they vie for the final UEFA Champions League place.

Villa are regularly cited as being the quintessential well-run club, with Lerner very much an owner who eschews the limelight and allows O'Neill to operate things as he sees fit.

It has been suggested Lerner has told O'Neill he has no plans to release significant funds for squad strengthening over the summer, which has reportedly not sat well with the Ulsterman.

Villa director Charles Krulak has rubbished the rumours though as he said: "The second I read the article, I asked Randy about it.

"His answer was 'rubbish'. Both Randy and Martin are on the same sheet of music and both know where the club needs to go."