By Shadrack Andenga Odinga
English Premier League side Burnley is set for a 200 million pounds takeover by an Egyptian businessman, the English media reported on Thursday.
According to ‘The Mirror’ Egyptian businessman Mohamed El Kashashy has already signed sale and purchase agreements.
It has also been reported that Burnley fc chairman Mike Garlick confirmed that El Kashashy and sports lawyer Chris Farnell did sign sale and purchase agreements with the Premier League club after agreeing to the deal worth 200 million pounds.
El Kashashy and Farnell have already provided proof of funds and the final obstacle is to pass the Premier League’s owners and directors test.
This comes after Cheshire-based Farnell had his ban from being an owner of a football club lifted by the EFL after his previous attempt to buy Charlton Athletic.
Farnell appealed the disqualification, having claimed that he had made an administrative error and it then became a bitter dispute with the EFL but he has now been cleared to buy Burnley.
El Kashashy is keen to buy an English club, having also been interested in the Charlton consortium but has now pulled off a Premier League coup.