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Burnley owners complete Espanyol turnover

Burnley’s owners have completed the purchase of a majority stake in Espanyol.

The Athletic reported in June that ALK Capital, the investment vehicle run by Burnley’s owner Alan Pace, were in talks over buying a stake in the Spanish top flight club. ALK had been exploring investment opportunities at clubs in Europe for some time.

Espanyol had been owned by Chinese company Rastar Group, who announced in July a €130million deal had been agreed with Velocity Sports Partners (VSP) — the investment arm of ALK — to acquire the 99.66 per cent stake in the La Liga club.  Rastar Group reported the deal consisted of €65m cash and €65m worth of shares in VSP.

“This is not about ownership; it’s about stewardship,” Pace said. “Burnley will remain Burnley. Espanyol will remain Espanyol. Each club will retain its own leadership, identity, independence and decision-making, run by its own people, for its own supporters.”

Espanyol had been on the market since their relegation from La Liga in 2022-23. The Barcelona-based club returned to the top flight the following season and finished 14th last term.

ALK completed a takeover of Burnley in a £170million deal in December 2020. JJ Watt, the former NFL star, became a minority investor in the club in May 2023.

ALK had also explored an investment in Belgian club Kortrijk when former Belgium international Vincent Kompany was head coach.

 

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