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

Managers Who’ve Already Been Sacked This Season

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

Khanye Lambasts Pirates For Impressive Mhango

39 Jan 18, 2022 10:51 AM in Orlando Pirates

7 Players Xavi Could Get Rid Of At Barca

5 Nov 09, 2021 01:26 PM in LaLiga

Usuthu Tie Down Two Stars?

11 Jan 18, 2022 04:25 PM in Siyagobhoza

Siuu! Ronaldo Shows Off R422 Million Personalized Private Jet

1 Jan 19, 2022 10:38 AM in Show Me The Money

Figo’s Figo – Bucs Star Goes Economic With Small Hatchback

7 Jan 21, 2022 10:31 AM in Stars & Their Cars

Robinho Sentenced To 9 Years In Jail

14 Jan 20, 2022 09:24 AM in World News

Nomandela: I Wanted To Play For Chiefs

48 Jan 19, 2022 11:05 AM in Kaizer Chiefs

Bafana Ba Style – 5 Of Motsepe’s Most Stylish Moments

Jan 21, 2022 04:10 PM in Drip, Style & Swag

Frustrated Bucs Supporters Join Planned March

20 Jan 18, 2022 04:17 PM in Orlando Pirates

'World Richest Footballer' Finds New Club

9 Dec 27, 2021 02:35 PM in World News

Nomandela: I Wanted To Play For Chiefs

48 Jan 19, 2022 11:05 AM in Kaizer Chiefs

All The Stadiums That Will Host Afcon Matches

2 Dec 10, 2021 07:29 PM in African Football