Velocity Sport Limited Sets Sights on Spanish Club Espanyol

English-based group Velocity Sport Limited, along with its American shareholders, is poised to take over the Spanish club RCD Espanyol. The club announced on Monday that Rastar, the current Chinese owner, has reached an agreement with VSL.

The strategic alliance aims to elevate Espanyol to a status comparable to Burnley, a fellow member of the VSL group and Premier League club. Although the clubs will remain independently operated, they will be backed by the same financial powerhouse.

The agreement is yet to be officially finalized pending administrative procedures. While details remain undisclosed, Rastar's shares will become part of the new investment vehicle, signifying a step poised to bolster both economic and sporting structures at Espanyol.

(With inputs from agencies.)