Alan Pace leads Burnley owners’ takeover deal of Espanyol

Espanyol has announced that Premier League club Burnley’s owners led by Alan Pace have reached an agreement to take over the LaLiga club.

According to ESPN, former NFL defensive end J.J. Watt — who is a minority investor in Burnley alongside Pace — will also be involved in Espanyol ownership.

Velocity Sport Limited (VSL), the sports division of ALK Capital investment group, will become Espanyol’s majority shareholder — while the previous owner, Chinese Rastar Group, will maintain partial ownership.

“With this agreement, Espanyol and Burnley will be part of the same investment group, although each will remain operating independently,” stated Espanyol’s official announcement.

The deal awaits administrative procedures completion for formalization. VSL’s move adds to the list of groups involved in multi-club ownership in European football — such as City Football Group which owns 13 clubs including Manchester City and Girona.

Espanyol has been owned by Rastar Group since 2015 and returned to LaLiga last year. Meanwhile Burnley, taken over by ALK Capital about 4 years ago, achieved Premier League promotion last season under Scott Parker’s management.