Burnley owner to acquire LaLiga club Espanyol
Velocity Sport Limited, the owner of Premier League club Burnley, has agreed a deal to acquire LaLiga side Espanyol, the Spanish team has revealed.
The deal is subject to approval, with its completion pending a formal administrative process.
"With this deal, RC Espanyol and [Burnley] will be part of this investment group, which expands its interests by having a club in LaLiga and another in the Premier League – although each will remain independent," a statement from Espanyol read.
China's RASTAR Group took over Espanyol in 2015, overseeing two relegations and promotions as well as a seventh-placed finish in the 2018-2019 season.
"RASTAR is not disassociating itself from RCD Espanyol, but rather its shares will become part of this new investment vehicle that will have stakes in both clubs," the Espanyol statement added.
Espanyol finished 14th in LaLiga last season, just two points ahead of Leganes in 18th, which is the competition's final relegation spot.
