Premier League side Burnley’s ownership group, Velocity Sport Limited (VSL), has reached an agreement to acquire Spanish club RCD Espanyol, the La Liga side announced on Monday.
According to a statement released by Espanyol, “The Rastar Group, the majority shareholders of RCD Espanyol, have reached an agreement in the past few hours with Velocity Sport Limited, an English-based group which also has American shareholders.”
Although Rastar will not fully exit the club, its shares will now form part of the newly structured investment group that holds stakes in both Burnley and Espanyol.
Despite the joint ownership, both clubs will continue to operate independently.
“This business integration formula allows for the coexistence of two historic clubs that will operate independently, although they will be supported by the same financial group,” the statement added.
Espanyol becomes the second club under the control of VSL after Burnley.
The move comes amid growing scrutiny around multi-club ownership models, which recently saw Crystal Palace demoted from the Europa League to the Conference League by UEFA due to shared ownership links with French club Lyon.
Espanyol’s former majority owners, Chinese firm Rastar Group and chairman Chen Yansheng, have faced criticism from fans since their 2015 takeover, during which the club suffered two relegations from the Spanish top flight.
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