Velocity Sport Limited (VSL), owners of Premier League club Burnley FC, have agreed a deal to acquire LaLiga side Espanyol.
This means the Clarets become the latest team to join the multi-club ownership model a number of teams in the Premier League already have.
According to a public statement from Espanyol, the club’s Chinese owners the RaStar Group has reached an agreement with VSL. Under this agreement, VSL will become shareholders in the holding company and enter into a strategic alliance aimed at positioning Espanyol on par with Burnley FC — the group’s sole club until now.
With this deal, both Espanyol and the English club will form part of the same investment group, which now expands its portfolio to include teams in both LaLiga and the Premier League. While both clubs will operate independently, they will be supported by the same financial group.
Rastar is not severing ties with Espanyol; instead, its shares will be integrated into this new investment vehicle that holds stakes in both clubs. The agreement is still subject to official confirmation, pending the completion of all required administrative procedures.
VSL, the sports investment arm of ALK Capital, took over Burnley in December 2020.
