Velocity Sports Partners, led by American businessman Alan Pace, completed a deal for Espanyol which was worth up to 200 million euros ($232.32 million), British media reports said. The deal ends Chinese conglomerate Rastar Group's nine-year ownership of the club.
"Football has always belonged to its people," said Pace, who has served as Burnley chairman since 2020. "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."
Pace emphasised that both Espanyol and Burnley would retain their unique identities, leadership structures, and independence. "Burnley will remain Burnley. Espanyol will remain Espanyol," he said.
Espanyol, based in Barcelona, have a rich history in Spanish football, having been founded in 1900. The club have spent the majority of their existence in LaLiga and boast a passionate following.