The owners of Premier League club Burnley, Velocity Sport Limited VSL, have finalised a deal to take over La Liga club Espanyol on Monday.
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, said Spanish club Espanyol in a statement.
Rastar is not disassociating itself from RCD Espanyol, but rather its shares will become part of this new investment vehicle that will have stakes in both clubs.
Espanyol will join Burnley as the second club under VSL's management however, the two clubs will remain independent, as stated in the announcement.
Since the Chinese group Rastar and owner Chen Yansheng acquired Espanyol in 2015, they have become less popular among the clubs fans, coinciding with the teams two relegations from the top tier.