Burnley’s house owners have accomplished the bulk takeover of LaLiga outfit Espanyol.
Velocity Sports activities Companions, the funding arm of Burnley proprietor Alan Tempo’s ALK Capital, has acquired the Barcelona-based membership from Chinese language businessman Chen Yansheng’s Rastar Group in a deal reportedly price £113m.
It says it intends to “put money into world-class academies and infrastructure, to attain long-term footballing success on and off the sector” at Espanyol, who’ve a wealthy historical past in Spanish soccer.
The Clarets turn out to be the most recent group to hitch the multi-club possession mannequin, following the likes of Chelsea and Manchester Metropolis.
American multi-millionaire Tempo insists that the 2 golf equipment will run independently from one another, retaining their separate identities.
“Soccer has all the time belonged to its individuals,” mentioned the Burnley chairman. “Our function is to not substitute legacy, however to construct upon it, with care, with readability, and with objective.
“This isn’t about possession; it’s about stewardship. Burnley will stay Burnley. Espanyol will stay Espanyol.
“Every membership will retain its personal management, identification, independence and decision-making, run by its personal individuals, for its personal supporters.”
Id underneath a multi-ownership mannequin has turn out to be a key level of concern relating to Chelsea house owners BlueCo, with followers of Ligue 1 membership Strasbourg feeling the funding group have made them the “pawns” of Chelsea’s sport.
Espanyol are presently ninth in LaLiga and completed 14th final season, having spent a yr within the second tier in 2023/24.
