Burnley Owners Have Acquired Spanish Espanyol: Deal Details.

According to The Sun: The owners of Burnley announced an unexpected acquisition of the Spanish club Espanyol. Thus, the 'Hot' became the last Premier League club to join the multi-club format.

The La Liga club is now owned by ALK Capital, an investment company that includes Burnley owner Alan Pace. The deal was signed after successful negotiations with the previous owners, the Chinese company Rastar Group.

The financial terms of the deal involve the purchase of 99.66% of Espanyol's shares for €130 million (£112.84 million).

Pace emphasized that this deal will not affect either club in the future.

“It's not about ownership; it's about governance. Burnley will remain Burnley. Espanyol will remain Espanyol. Each club will retain its own management, identity, independence, and decision-making, led by its people for their fans.”

Currently, Espanyol is in 9th place in La Liga after eight matches, compared to 14th place last season. The team returned to the top division of Spanish football after a year spent in the lower league.

“We are here to work. Honestly, cautiously, and openly. To honor the past, support the present, and shape a future worthy of both clubs.”

This is not the first step for the ambitious owners of the club, among whom is NFL legend J.J. Watt. The Lancastrians have a 'partnership strategy' with the Scottish club Dundee.

This deal will also help develop young talents, as evidenced by the summer transfer of Joe Westley, who signed a three-year deal in Scotland after leaving Trafford.

The acquisition of Espanyol opens new horizons for both clubs, providing opportunities for joint development and cooperation on an international level. This step demonstrates the growing trend in football, where clubs from different leagues and countries form partnerships to enhance their financial and sporting performance. By combining resources, clubs have the opportunity to attract new talents and improve their positions on the international stage.