Burnley owner Alan Pace is in the process of completing the takeover of LaLiga club Espanyol in a deal worth €200 million.
According to Sky Sports News, the starting price is £156 million, but it could rise to £173 million if certain incentive-based conditions are met.
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The takeover is said to have been led by Pace and his investment team. They have finally completed due diligence after more than three months of reviewing the club’s finances, and expect to take over just over 99 percent of the club.
Pace’s company Velocity Sports Partners (VSP) is expected to arrive in Barcelona next week to complete the paperwork and start talks to strengthen the team ahead of the upcoming season.
The discussions have taken place at board and owner level and have not involved anyone from the club along the way. According to sources, this process has been completely separate from Burnley and does not affect or take resources from the English club in any way.
Pace and VSP are reportedly said to remain fully committed to Burnley, with the aim of staying in the Premier League next session.
Sky Sports News has been informed that Burnley’s management want to ensure that Scott Parker gets support in this transfer window ahead of an exciting new season in the Premier League. This has been demonstrated through signings such as Loum Tchaouna, Bashir Humphreys and Quilindschy Hartman, among others.
Both the Premier League and La Liga have been kept informed of the discussions and intentions.
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