Villa have lost three players this summer and are in need of new players.
Gareth Barry and Stuart Taylor have moved to Manchester City, while Martin Laursen has retired.
“Martin’s achievements have been superb,” stated Lerner in the Daily Express. “We have improved steadily and we have qualified for Europe two seasons in a row.
“He has a reputation as a very good manager, with good success, and that will play a part when playing are thinking of coming to Aston Villa.
“The funds will be in place for him.”