BURNLEY’S owners have completed a shock takeover of LaLiga side Espanyol.
In doing so, the Clarets have become the latest Premier League outfit to enter into a multi-club format.
GettyBurnley’s owners have bought LaLiga club Espanyol[/caption]
GettyAlan Pace has insisted it will not affect the Clarets[/caption]
The LaLiga side have been bought by ALK Capital, which is the investment firm of Burnley owner Alan Pace.
The firm completed the purchase after successful talks with the previous owners Chinese company Rastar Group.
The deal has been finalised as ALK Capital have acquired a 99.66 per cent in Espanyol for €130million (£112.84million).
Pace has insisted that the deal will not affect either club.
He said: “This is not about ownership; it’s about stewardship.
“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.
“[Their multi-club model] is built on the belief that collaboration, when done with respect, can strengthen local identity rather than threaten it.”
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Espanyol are currently 9th in LaLiga after eight games, following on from their 14th-place finish last term.
They returned to the top flight of Spanish football after one season following relegation in 2023.
Pace added: “We are here to do the work.
“Honestly, carefully, and openly. To respect the past, support the present, and shape a future worthy of both clubs’ proud traditions.
“This is how football evolves, with its people, for its people, and always for the beautiful game.
“I would also like to express my gratitude to Chen Yansheng and the Rastar Group for their stewardship of RCD Espanyol.
AlamyJJ Watt is an investor in Burnley[/caption]
“Their hard work and commitment have laid a strong foundation, and we look forward to working alongside them as we aim to take the club to the next level.”
It is the latest move by the club’s ambitious owners which includes NFL legend JJ Watt.
The Lancashire side already boast a “strategic partnership” with Scottish outfit Dundee.
The agreement between the two will help them develop young talent.
This was evident in the summer transfer that saw Joe Westley leave Turf Moor for Scotland on a three-year deal.
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