Register Login Scores

Cadbury

Report: African Businessman To Buy EPL Club

An Egyptian businessman could reportedly become the next African owner of a Premier League club after signing a whopping R4.2 billion purchase agreement to buy the team.

In Pictures: Inside Liverpool's New R1bn Training Complex

According to the Daily Mirror, Mohamed El Kashashy, who made his money in the food industry, is set to buy Premier League side Burnley.

The Egyptian, together with sports lawyer Chris Farnell, has signed sale and purchase agreements with the English top-flight club after agreeing a £200 million (R4.2 billion) deal with chairman Mike Garlick.

The pair have reportedly already provided proof of funds, and have only one final hurdle to pass: the Premier League's owners and directors test.

Check out the richest owners of Premier League clubs in the gallery below:

The negotiations regarding the sale of Burnley have reportedly been going on for more than a year, but the coronavirus pandemic has put current owner Garlick under more pressure to sell, with the club reportedly losing out on £50 million (R1 billion) due the negative financial impact of COVID-19.

The limited financial resources available are said to have caused tension between Burnley manager Sean Dyche and the club's hierarchy, especially after the Premier League side spent just £1 million (R21 million) in the most recent transfer window.

Read: The Highest-Paid Player At Each EPL Club Revealed

It is understood that there will not be wholesale changes at the club under El Kashashy and company, and that they have Dyche as central figure in their long-term plans.

Burnley is the latest club to linked with a takeover after Newcastle United, who were on the brink of being sold before the deal broke down earlier this year.

El Kashashy would become the second African owner of a Premier League side after his countryman Nassef Sawiris, who is Aston Villa's majority owner.

Official: Man City Owners Buy 10th Club

Report: Man City Owner Wants To Buy African Club

Footballers Who Became Club Owners

comments

Top 5

Comitis: I Don't See Chiefs Getting Special Treatment

123 Dec 03, 2021 10:59 AM in Kaizer Chiefs

Managers Who’ve Already Been Sacked This Season

Nov 08, 2021 12:26 PM in English Premier League

Insider Reveals Extent Of Chiefs’ Covid Ward

66 Dec 03, 2021 11:59 AM in Kaizer Chiefs

7 Players Xavi Could Get Rid Of At Barca

4 Nov 09, 2021 01:26 PM in LaLiga

Bucs Qualify For CCC Without Kicking A Ball

40 Dec 03, 2021 08:13 AM in Orlando Pirates

Finally! FIFA Respond To SAFA Complaint

132 Dec 03, 2021 04:29 PM in Bafana

Ghana Move On From Penalty Drama?

21 Dec 01, 2021 01:29 PM in African Football

Chiefs To Reignite Vilakazi Interest?

53 Dec 01, 2021 11:42 AM in Kaizer Chiefs

Insider Reveals Extent Of Chiefs’ Covid Ward

66 Dec 03, 2021 11:59 AM in Kaizer Chiefs

Swallows To Make U-Turn On Sacked Coach?

14 Dec 02, 2021 08:05 AM in Siyagobhoza

31 Covid Cases, Chiefs Want 4 Games Postponed!  

123 Dec 03, 2021 06:31 AM in Kaizer Chiefs

BREAKING! All The Ballon d'Or Nominees Revealed

5 Oct 08, 2021 06:33 PM in Ballon d’Or

Pirates Promise Four January ‘Signings’

19 Dec 03, 2021 03:02 PM in Orlando Pirates

12 Players Who Went Bankrupt

25 Dec 07, 2020 12:34 PM in World News

Precedent Set, Chiefs To Be Denied?

64 Dec 03, 2021 02:12 PM in Kaizer Chiefs