Burnley owners vow to run Espanyol separately after £113m takeover
Burnley’s owners insist they will run Espanyol independently after completing a takeover of the Barcelona-based LaLiga club.
Velocity Sports Partners, the investment arm of Burnley owner ALK Capital, confirmed today it has acquired Espanyol from Chinese businessman Chen Yansheng’s Rastar Group in a deal reported to be worth €130m (£113m).
“Football has always belonged to its people,” said Burnley chairman Alan Pace, who is also managing partner of ALK Capital.
“Our role is not to replace legacy, but to build upon it, with care, with clarity, and with purpose.
“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.”
Burnley and Espanyol in multi-club group
The takeover creates a multi-club group within US-based Velocity Sports Partners, which counts former NFL star JJ Watt among its investors.
Since buying Burnley in 2020, ALK Capital has seen the club relegated to the Championship and then promoted back to the Premier League twice.
They currently sit 18h in the top flight. Espanyol are ninth in the Spanish top division. Under the terms of the deal Rastar will acquire a stake in Velocity Sports Partners, according to reports in Spain.
“We are here to do the work,” added Pace. “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.
“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.”