The report suggests that El KashashyandFarnell have already provided the requisite proof of funds for the takeover. Can you name the 100 most valuable players in the world? RichardJollyalso writes for the National, the Guardian, the Observer, the Straits Times, the Independent, Sporting Life, Football 365 and the Blizzard. Experience includes working with private equity investors/boards, improving performance and profitability with decisive change management and growth leadership . It is believed El Kashashy has been attracted by one of the Premier Leagues best-run clubs and is prepared to back manager Sean Dyche with major investment to improve his squad. The report also claims that the Egyptian businessman has been keen on the takeover for more than a yearnow. How to get into football - the most popular sport in the world, with clubs and facilities throughout the UK. Before founding Think Food in 2011, Mr El Kashashy, from Egypt, held a number of . It is understood that discussions over the deal have been going on for the past 12 months but that contracts have now been signed and exchanged while proof of funds has also been established. Klopp: We will do business | Chelsea transfer model impossible for manager, Transfer Centre - Neville: Spurs can't afford to lose Kane this summer, Carra: Everton display will worry rivals | 'Big Sam makes sense for Leeds', Brecel holds off Selby fightback to win World Snooker final, Arteta: This is not over | Lampard: Arsenal still in the title race, Ref Watch: 'Klopp case closed but Jota got lucky!'. They were promptly relegated and his asset diminished in value. Answering a written question from Charlton Athletic Supporters Trust, Elliott replied: Mohammed is a member of the consortium. As a Championship club, or even one in imminent danger of dropping down a division, they would not be nearly as attractive to investors. The Mail reports his net worth at 62m, the lowest of any Premier League owner. The takeover is being led by El Kashashy, who is based in Dubai and made his name in the Food and Leisure industry. Quiz! Farnell subsequently appealed against the decision and the ban was withdrawn, although he did serve a five-week disqualification period which ended on 14 September. Like Kroenke, Khan has a background in American sports. Miracle of Burnley: inside the Premier Leagues most unlikely success story, Original reporting and incisive analysis, direct from the Guardian every morning, 2023 Guardian News & Media Limited or its affiliated companies. . It was the first time Levy, who has been in his post at Tottenham since 2001 and was the highest-paid Premier League executive last year, made the Sunday Times list. I bet Farnell's already spent a few quid upgrading his office security. El Kashashy, Mohamed Sayed Zein (aka Elkashashy), Born September 1978, Mohamed El Kashashy is an Egyptian businessman, whose glowing CV lays claim to holding senior roles at Coke, Proctor & Gamble, Gillette, and McKinsey and the Dubai Government, , before founding Think Food LLC in 2011 (limited access). US interest from the finance group ALK Capital LLC surfaced a couple of weeks ago, but though talks are ongoing a rival package led by the Cheshire-based sports lawyer Chris Farnell and funded by the Egyptian food magnate Mohamed El Kashashy has also been in touch with the club over a proposed 200m takeover. Burnley are the subject of a 200m takeover bid from Egyptian businessman Mohamed El Kashashy and lawyer Chris Farnell. Much like Dyches feat in taking them to seventh in 2018, the only way thereafter is down. It seems Elliott and Farnell are appealing@EFLOADT after all, as current decision blocks them from future involvement at any club #cafc It seems reasonable to guess El Kashashy was one of the other individuals under consideration, as an acknowledged member of the consortium hoping to buy CAFC. They have a loyal fanbase but, surrounded by rivals and relatively near super-clubs, not much chance to dramatically increase it; in a world where crowds were permitted, Burnleys average attendance was almost a quarter of the towns population and their annual matchday income around 6 million; Turf Moor, one of the least deluxe top-flight grounds, is not particularly lucrative. 19 Abdullah bin Musa'ad bin Abdulaziz Al Saud - 198m. ALK Capital LLC stance on Burnley takeover amid rival interest in Clarets, Who is Chris Farnell? The takeover is being led by El Kashashy, who is based in Dubai and made his name in the Food and Leisure industry, and also involves sports lawyer Chris Farnell. Here's why . And Fulham, with their London location, has advantages Burnley lacks. Interestingly, Farnell recently had a ban lifted against him from being an owner of a football club, following his previous attempt to acquireCharlton Athletic. These are not senior positions at all. Mohamed El-Erian on Fed Missteps and Banking Industry . The Premier League title race, fight for Europe and relegation battle: Every club still playing for something this season, Rivaldo urges Roberto Firmino to not move to Barcelona in summer transfer window, Napoli are on the cusp of their third Serie A title and the celebrations will be like nothing you have ever seen. The outcome of these other applications has not become public; neither has the outcome of an EFL Source and Sufficiency of Funds Test for this consortium, if they ever got as far as making an application. They are now awaiting the Premier League's directors and owners test, a final obstacle in their attempt to acquire a club in the English top-flight. The best features, fun and footballing quizzes, straight to your inbox every week. COMMENTWe're learning a lot from Arsene Wenger's return to the public eye it's just not what we expected, EXCLUSIVEArsene Wenger reveals how close he came to signing Cristiano Ronaldo at Arsenal, Thank you for reading 5 articles this month* Join now for unlimited access, Enjoy your first month for just 1 / $1 / 1, *Read 5 free articles per month without a subscription. It is just a question of when and how and how much. . The title race in Europe's top five leagues, How Eddie Howe has improved Newcastle United's players, In the mag: An ode to Martin degaard! If Think Food LLC is the foundation and on-going source of his claimed wealth, one might expect to find more recent information. Bloom has been the owner of Brighton & Hove Albion since 2009, having built his fortune in the world of online gambling - among other areas - before taking control of his hometown club. Heres how it works. And the price explains why some choose to speculate to accumulate, even if it is a policy that has cost some millions when their plans have backfired. Burnley are traditionally regarded as a well-run club capable of comfortably living within their means on Premier League income and have upgraded their infrastructure impressively during the eight years of success they have enjoyed under Sean Dyche, though there were signs of tension even before Covid-19 hit last season owing to the managers frustration at a tightly drawn budget for transfers and player wages. Their supporters groups and trust (if they have one) needs warning, and quick. How can Farnell still be operating. However, BBC Sport understands that Farnell and El Kashashy are in talks with major shareholders at the club. Dyches methods may lack aesthetic appeal but they have tended to work and suggest this seasons slow start is just that. Last updated on 28 October 202028 October 2020.From the section Burnley. Sean Dyche jokes around as Man City rumours intensify. (Photo by Tony McArdle/Everton FC via Getty Images). That's an absolute fucking disgrace. History, in part, though whether that has much of a financial value is a moot point. The Clarets are close to being sold to Egyptian businessman Mohamed El Kashashy in a 200m deal that also involves sports lawyer Chris Farnell. The pair had been involved in American sports before arriving at Anfield, most notably taking charge of the Boston Red Sox in 2002. Golds family assets include lingerie brand Ann Summers, while he also made money in the magazine, printing and distribution business. Prince Abdullah, part of the Saudi Royal family, made money in the paper manufacturing industry before investing in Sheffield United. The panel deemed that a five-week suspension was an appropriate punishment. e-mail; 9. I would be shocked if it wasn't football being screwed over like this. When you purchase through links on our site, we may earn an affiliate commission. Last Updated: 30th October, 2020 11:21 IST Premier League Club Burnley Set For 200m Takeover By Egyptian Tycoon Mohamed El Kashashy . Burnley are the subject of a 200m takeover bid from Egyptian businessman Mohamed El Kashashy and Cheshire-based lawyer Chris Farnell. A Crystal Palace co-owner since 2015, Harris other sporting ventures include the Philadelphia 76ers of the NBA and the New Jersey Devils of the NHL. And the latest Premier League rich list shows just why Burnley and current chairman Mike Garlick are seeking additional investment for the club. The same article also said he was currently a managing partner of Beta-Infra, which appears to be a firm based in Rio de Janeiro in Brazil, whose only contact point is Facebook. I have just checked my calendar to make sure it isn't April 1st. Hes also listed as an alumnus of the American University in Cairo with a Bachelors degree in business administration and management, with a subsequent Master of Business Administration from the Madrid-based IE Business School. Introduced in August 1994 to satisfy a yearning for a fresh, breezy and entertaining afternoon paper in Lagos and its environs, P.M.News is positioned as a paper for everyone. But who is the other figure involved in the takeover? As quoted by sports publication Mirror, Burnley are set to be sold to an Egyptian businessman named Mohamed El Kashashy. Until, anyway, rather overshadowing the low-profile deals for Dale Stephens and Will Norris, it became apparent that Burnley could be transferred. The deal involves sports lawyer Chris Farnell. 1 1. Biden 2020 and Shutting Down the Hunter Biden Laptop Story. Gary Lineker, Alan Shearer and Micah Richards discuss the art of punditry and rank the best analysts, Three single Kiwi women are in search of the man of their dreams in FBoy Island NZ. NY 10036. It still sounds an overestimate in the light of his stated business background. . A footballing whirlwind in the eye of a tabloid storm Look at the actions taken as the Third Reich faces collapse in the final weeks of World War II. Quiz! Or by navigating to the user icon in the top right. Although the description of him as a Banker, in a Daily Mail article of 22 June 2020 (see quote below) is thought to be an error, a quote in the 29 October 2020 edition of LancsLive was taken from his LinkedIn profile, describing himself as a Strategic Private Equity Director, and claiming in the About section: Experience includes working with private equity investors/boards, improving performance and profitability with decisive change management and growth leadership. This is sufficiently vague that it could have some basis in fact. Burnley are without a Premier League win so far this season. That dossier needs to be released to save Burnley. Should anyone manage to pull up the drawbridge, remove relegation and ringfence the division then Burnleys value would mushroom. Dec 22, 2020. Also Read |Lionel Messi to Burnley? FIXTURE NEWS | Our away game at the Amex has been rescheduled for live broadcast . So what does 200 million buy? Mohamed El Kashashy, the founder of Think Food, a Dubai restaurant company with about 250 employees, said that his employees' housing costs had increased by as much as 50 per cent in the past 12 months. Interesting the report mentions providing proof of funds, but not source of funds which was allegedly the problem with Nimers application to the EFL for Charlton. The east Lancashire side have been looking to raise investment for many months. Garlick is thought to be keen to stay on in some administrative capacity under new owners, and would prefer any takeover to take place sooner rather than later so that Dyche may get some money to spend in the January window. Egyptian businessman Mohamed El Kashashy has pulled out of a potential deal to buy Premier League club Burnley, according to the BBC. Beyond Nick Pope, James Tarkowski, Dwight McNeil and, to a lesser extent, Chris Wood, few would command major fees. El Kashashy, Mohamed Sayed Zein (aka Elkashashy) . Mohamed El Kashashy and Chris Farnell have pulled out of takeover talks to buy Burnley Football Club, reports Andy Jones. Global ranking: Name: Citizenship: Net worth (USD) 330: Nassef Sawiris Egypt: 5 billion: 590: Mohamed Mansour Egypt: 3.3 . Arsenal owner Kroenke is one of a number of Americans to invest in Premier League clubs, and has been involved with the Gunners for more than a decade. KingFut. 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Henry is worth $2.8bn (2.13bn), according to Forbes, while TV producer Werners wealth has been reported at anywhere between $300m-700m. A number of the groups investments are in the pharmaceutical industry, and Guangchangs co-founder Liang Xinjun is also on Forbes Billionaires List. Havertz grabs brace as Chelsea bash Burnley, Struggling Burnley hold Chelsea at Stamford Bridge, Tragic night for Arsenal as Aubameyang scores own goal.
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