LONDON: The owners of Premier League club Burnley, Velocity Sport Limited, have agreed a deal to acquire Espanyol, the La Liga team said on Monday.
“With this deal, RC Espanyol and (Burnley) will be part of this investment group, which expands its interests by having a club in La Liga and another in the Premier League – although each will remain independent,” Espanyol said in a statement.
China’s RASTAR Group took over Espanyol in 2015, overseeing two relegations and promotions as well as a seventh-placed finish in the 2018-19 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,” Espanyol added.
Espanyol finished 14th in La Liga last season, just two points ahead of Leganes in 18th – the final relegation spot.