The Spanish club has new owners.
The deal is complete!
Details: As reported by The Athletic, Burnley’s owners have successfully purchased a controlling stake in the Spanish club Espanyol for €130 million.
Previously, Espanyol was owned by Rastar Group, a Chinese company, which sold 99.96% of its shares to Velocity Sports Partners (VSP), the investment branch of ALK.
Rastar Group disclosed that the deal was made up of €65 million in cash and €65 million in ALK shares.
Espanyol is now the second club associated with ALK, which also has a partnership with Scottish club Dundee focused on youth development.
ALK bought shares in Burnley in 2020 for £170 million, and one of the club’s investors is former NFL player J.J. Watt, who joined the investment group in 2023.
Reminder: In a notable incident, Burnley defender Estève scored two own goals during a match against Man City.