The Cheshire-based lawyer was handed a ban after issues arose during an attempt to buy Charlton earlier this year. Staunch Partners, Charlton Athletic & Burnley FC. Attention: Please take a moment to consider our, No way this doesn't end in tears, can't believe what I'm reading. View comments. Burnley are on the verge of being taken over in a deal worth around 200m by Egyptian businessman Mohamed El Kashashy. Earlier this year, Goal reported the Emiratis net worth at $20bn (15.19bn). 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. However, BBC Sport understands that Farnell and El Kashashy are in talks with major shareholders at the club. As quoted by sports publication Mirror, Burnley are set to be sold to an Egyptian businessman named Mohamed El Kashashy. How many King Charles III facts do you really know? Since their promotion back to the Premier League back in 2016, Burnley have become one of the most consistent sides in the competition under the guidance of Sean Dyche. The takeover is being led by El Kashashy, who is based in Dubai and made his . Last week, a source told the BBC that the sports investment firm, run by United States-based businessman Alan Pace. The Egyptian businessman Mohamed El Kashashy is behind a potential 200 million takeover. El Kashashy and Farnell pull out of Burnley takeover talks. These are not senior positions at all. On Wednesday, Farnell had his disqualifying condition lifted by an independent Arbitration Panel that had prevented him becoming a director of a football club since August, when he failed the EFL's Owners and Directors' Test during an attempted takeover of Charlton Athletic. The panel deemed that a five-week suspension was an appropriate punishment. That's a 48% saving! And the latest Premier League rich list shows just why Burnley and current chairman Mike Garlick are seeking additional investment for the club. And Fulham, with their London location, has advantages Burnley lacks. 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He sold a stake in investment vehicle Lander Sports Development earlier this year, according to The Athletic, fetching an estimated 148.5m. New York, Mohamed EL BAKKALI LinkedIn. Henry is worth $2.8bn (2.13bn), according to Forbes, while TV producer Werners wealth has been reported at anywhere between $300m-700m. Think Food raised housing allowances in response, which cut its profit by between 15 and 20 per cent, Mr El Kashashy said. I would be shocked if it wasn't football being screwed over like this. (Photo by Visionhaus/Getty Images). So what does 200 million buy? Egyptian businessman Mohamed El Kashashy and solicitor Chris Farnell pull out of a potential deal to buy Premier League club Burnley. He and his son, Fulham director Tony Khan, are also involved in All Elite Wrestling. Burnley could soon be set for new ownership. . It still sounds an overestimate in the light of his stated business background. 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Everything you need to know to make sure you never miss a moment. Tottenham are owned by ENIC Group, whose owners include Joe Lewis and current Spurs chairman Daniel Levy. in their last Premier League game on Monday lifted them out of the top flight's relegation zone. (Photo by Tony McArdle/Everton FC via Getty Images) . The full list of Premier League owners has been ranked with current Clarets chairman Mike Garlick bottom of the pile, Get the latest Burnley FC news delivered straight to your inbox each day - sign up for free email updates. Prince Abdullah, part of the Saudi Royal family, made money in the paper manufacturing industry before investing in Sheffield United. Something went wrong, please try again later. Neighbours both belong in the bracket of clubs who can get into the top flight and stay in it Rovers last spell spanned 11 years but who could spend years, even decades, outside it. The British businessman bought the club in 2007, making him one of the longer-serving owners in the Premier League. . The report suggests that El KashashyandFarnell have already provided the requisite proof of funds for the takeover. El Kashashy and sports lawyer Chris Farnell have put pen to paper with Burnley following an agreement with clubchairmanMike Garlick. It is understood there has been no contact between El Kashashy, Farnell and Burnley chairman Mike Garlick for six weeks. He is therefore unlikely to have started his career before 2000. Their company Staunch partners has been raising funds to support the club, to pay players and staff wages and assisting with restructuring of both the financial and legal side at Charlton. The 73-year-old has been involved with American sports franchises for even longer, and remains the owner of the Los Angeles Rams among others. The Egyptian entrepreneur involved in Burnley FC takeover bid, Who is Chris Farnell? His wealth sits at $4.5bn (3.42bn), according to Forbes, up from $4bn in April. Transfers have been rationed at Burnley of late. On 22 June 2020, the Daily Mail reported: Sports lawyer Chris Farnell and Egyptian banker Mohamed El Kashashy played key roles in advising on Elliotts acquisition after it became apparent that a disgruntled Nimer had little desire to invest any more money into the struggling Championship club. Farnell was previously involved in talks over the future of Bury and was briefly a director at Wigan. 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 . the woman received a letter from the Department for Work and Pensions (DWP) informing her that she would need to repay 8623.20 despite her repeatedly checking her benefits was correct. Both parties are keen to takeover Burnley, whose chairman Mike Garlick has been looking at outside investment for a number of months. 13 John W Henry and Tom Werner - 2.35-2.66bn. The lawyer had previously been involved in talks with Bury, having briefly served as a director at Wigan. This is partly because ALK Capital, which is run by Alan Pace, the former president of Major Soccer League franchise Real Salt Lake, was further advanced in negotiations but also because Farnell has been embroiled in the chaotic takeover saga at Charlton Athletic.. Golds family assets include lingerie brand Ann Summers, while he also made money in the magazine, printing and distribution business. How can this happen? ALK - run by US-based businessman Alan Pace - is pursuing its takeover ambitions at the same time as a separate deal involving Cheshire-based lawyer Chris Farnell and Egyptian businessman Mohamed El Kashashy. We use your sign-up to provide content in the ways you've consented to and improve our understanding of you. Take that away, however, and even with parachute payments, much of the value goes. Burnley are regarded as one of the best-run clubs in the Premier League but chairman Mike Garlick's refusal to loosen the purse strings has led to a strained relationship with manager Sean Dyche, who has repeatedly called for his squad to be strengthened. It is just a question of when and how and how much. 4/28/2023 7:00AM. The duo have met Mike Garlick and it is understood that the pair have signed a Sales and Purchase Agreement (SPA), provided proof of funding and are awaiting Owners' and Directors Test clearance for a takeover attempt believed to be worth around 200million. According to Linkedin, El Kashashy is 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. How to get into football - the most popular sport in the world, with clubs and facilities throughout the UK. And with football in a state of flux, Premier League proposals threaten financial models. Taylor Swift's Net Worth: How the 'Anti-Hero' Star Made Her Fortune . Sooner or later, they would be imperilled. They were promptly relegated and his asset diminished in value. By then he will probably need it, for though Burnley have been reliably buoyant over the past few seasons this one has started disappointingly. West Ham owners Sullivan and Gold have been at the east London club for more than a decade, having taken over during the 2009/10 season. The pair's bid was being considered by the Premier League, along with a rival offer from ALK Capital, but there has not yet been any ratification. The chairman has been keen on outside investment for a long time and believes the current deal meets his requirements and a takeoveris all but done. The 46-year-olds investment firm Aser Ventures operates predominantly in the sports and media spheres, and owns the Eleven Sports TV channels. We recognise that some material used in or referred to by this website may be protected by copyright. PL relegation fight: What are the remaining games? The takeover is being led by El Kashashy, who is based in Dubai and made his name in the Food and Leisure industry. If Think Food LLC is the foundation and on-going source of his claimed wealth, one might expect to find more recent information. The late Malcolm Glazer built up his stake in United over the early part of the 21st century, and the club remained in the hands of his family following his death in 2014, with sons Avram and Joel serving as co-chairmen. Aston Villa owner Sawiris was second on Forbes African billionaires list in 2020, and the Egyptians wealth has only increased since then. But Project Big Pictures ideas included reducing the revenue of the lower-ranking teams and reducing the division to 18 clubs; that would represent a ticking timebomb to Burnley and their ilk. Furthermore, he is not a member of McKinseys alumni system, which is very unusual for anyone who has had a senior position there, especially a budding entrepreneur. . Updated: 4th December 2020, 8:33 am. All parties are now waiting for the Premier League to rubber-stamp the deal. Final - 14/11/2019. Although by now Farnell had resolved the issue over his O&D Test with the EFL, he and El Kashashy appeared to have a similar stumbling block with the Premier League. Since April, his wealth has climbed from $5bn to $7.1bn (5.39bn) according to Forbes. 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!'. 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. Burnley are on the verge of being taken over in a deal worth around 200m by Egyptian businessman Mohamed El Kashashy. . Burnley are currently third bottom of the Premier League, with one point from their opening five games. 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. As reported by The Express, Sean Dyche's side are close to being taken over by Chris Farnell and Egyptian businessman Mohamed El Kashashy, who will purchase the club from Mike Garlick. I hope Burnley fans are ready for the fight, otherwise it will most certainly end in tears. Test your knowledge. The company operates seven restaurants in the UAE, with plans to open two more before the end of the year. Burnley are on the verge of being taken over in a deal worth around 200m by Egyptian businessman Mohamed El Kashashy. Dec 22, 2020. The sports lawyer appealed to the EFL that he had made an administrative error, which resulted in a bitter conflict with the body. This is the full list of Egyptianbillionairesaccording toForbes (28 Jun 2020): Perhaps the data the Mirror accessed was in Egyptian pounds? I have just checked my calendar to make sure it isn't April 1st. According to Forbes, the 35-year-old was one of the five youngest billionaires in Asia when the publications 2020 Billionaires List was published, since when his net worth has risen from $3.7bn to $3.9bn (2.96bn). The nature of its business is recorded as Activities of open-ended investment companies, which could at a stretch be the foundation for El Kashashys claim to be a Strategic Private Equity Director. The food and leisure magnate is reportedly involved in talks to buy the Clarets. Theres a new twist in the Burnley takeover saga as a new prospective owner has emerged. He is an alumnus of the American University in Cairo, holding a Bachelor's degree in business administration and management. I really do pray for Burnley football club and their fans. Executive proficiency is demonstrated in formulating and implementing creative strategies and initiatives that produce major improvements in operational and earnings performance.. Under the ownership of the Russian-Israeli businessman, the Blues were the biggest spenders in the Premier League in 2020 after signing players including Kai Havertz and Timo Werner. They are overachievers on the pitch, too, with two top-10 finishes in the last three seasons. Egyptian businessman Mohamed El Kashashy and solicitor Chris Farnell have pulled out of a potential deal to buy Burnley. . Also Read |Kane and Son combine to give Tottenham to 1-0 win at Burnley. . Also Read |Lionel Messi to Burnley? The latest report suggests that Garlick has been in talks with Farnell and Elkashashy for almost a year, but this is the first time that their names have appeared in the press with regards to the Turf Moor outfit. 'ACCESS ALL AREAS' pass to exclusive interviews with the biggest and best names in the game. 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. Back in April of this year, the Manchester Evening News reported that the family was worth 3.8bn. On 8 November 2020, the Sunday Mirror claimed El Kashasky [sic] is worth 9.65 billion, by coincidence the same as they quoted for Abramovich. Comoros Egypt. The published content on this website is a product of our research and is published with no underlying commercial purpose for information and event reporting purposes only. El Kashashy and Farnell have emerged as frontrunners ahead of American investment group ALK Capital LLC, who still harbour hopes of completing a deal themselves. Sawiris background is in the construction industry, and he completed his takeover of the Birmingham club when they were still in the Championship. Mohamed El Kashashy ready for Burrnley take overBurnley are on the verge of being taken over in a deal worth around 200m by Egyptian businessman Mohamed El Kashashy. . It may have risen since then, but perhaps only temporarily. FourFourTwo is part of Future US Inc, an international media group and leading digital publisher. Their supporters groups and trust (if they have one) needs warning, and quick. He appealed that, claiming he filled in a form incorrectly, and was this week . He has amassed massive wealth, being one of the food and leisure heavyweights, though the Mohamed El Kashashy net worth figures are not out in the public domain. Interestingly, Farnell recently had a ban lifted against him from being an owner of a football club, following his previous attempt to acquireCharlton Athletic. Farnell subsequently appealed against the decision and the ban was withdrawn, although he did serve a a five-week disqualification period which ended on 14 September. Burnley are the subject of a 200m takeover bid from Egyptian businessman Mohamed El Kashashy and lawyer Chris Farnell. 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. How can Farnell still be operating. ALK Capital LLC stance on Burnley takeover amid rival interest in Clarets, Who is Chris Farnell? The British businessman made his money in the management consultancy industry, among other fields, and has held talks with US firm ALK Capital and a second group led by Mohamer El Kashashy and sports lawyer Chris Farnell. Something went wrong, please try again later. Experience includes working with private equity investors/boards, improving performance and profitability with decisive change management and growth leadership. The deal involves sports lawyer Chris Farnell. It is being said that Burnley are close to a 200 million major takeover by an Egyptian food magnate, El Kashashy. Mohamed El Kashashy ready for Burrnley take over Burnley are on the verge of being taken over in a deal worth around 200m by Egyptian businessman Mohamed El Kashashy. His ageing squad means a rebuild will be required and offers less of a chance to recoup funds than, say, Bournemouths when they went down. He has amassed massive wealth, being one of the food and leisure heavyweights, though the Mohamed El Kashashy net worth figures are not out in the public domain. Where possible, we have provided the source of our published content. Though reluctant to comment while the latest consortium awaits EFL approval, they have dispelled rumours that season ticket sales have been used to keep the club afloat and say their sole aim is to relaunch Charlton Athletic back to its [sic] glory days.. If that Egyptian guy was in larks with Burnley for a year then farnell and him have shown yet another conflict of interest. Farnell recently had a ban from owning a club in England overturned by the Football League. An absolute disgrace if they are allowed to take over. Private investment company Staunch Partners Limited, registered with Companies House after filing a statement of capital in November last year, is said to be Farnell and Elkashashys takeover vehicle. Can you name the 100 most valuable players in the world? Read about our approach to external linking. One of the best-run clubs in the Premier League, with a net profit in the last three years, though it will be altogether harder to extend that sequence because of the impact of COVID-19. It therefore appears Staunch Partners was originally set up as a vehicle to buy Burnley FC, and its reported use to raise funds for Charlton Athletic was a stop-gap measure. His main business venture is Think Food LLC, which operates several restaurant chains around the United Arab Emirates. It had been thought American sports investment firm ALK Capital were in pole position to buy the Clarets. 1 1. Egyptian businessman Mohamed El Kashashy has pulled out of a potential deal to buy Premier League club Burnley, according to the BBC. It had been thought American sports investment firm ALK Capital were in pole position to buy the Clarets. Heres everything we know about Mohamed Elkashashy. However, victory over Wolves in their last Premier League game on Monday lifted them out of the top flight's relegation zone. His net worth has risen from $2.2bn to $2.5bn (1.9bn) since April, according to Forbes. The best features, fun and footballing quizzes, straight to your inbox every week. He is someone that both Chris Farnell and I have known for some time.. The golden share, the place in the Premier League and its guarantee of at least 100 million in television revenue. According to a list published by the Mail earlier this year, he was worth an estimated 3.1bn in May. By Ahmed El-Ramady . the woman received a letter from the Department for Work and Pensions (DWP) informing her that she would need to repay 8623.20 despite her repeatedly checking her benefits was correct. 16 David Sullivan and David Gold - 1.56bn. 19 Abdullah bin Musa'ad bin Abdulaziz Al Saud - 198m. How many King Charles III facts do you really know? He is also vice-chairman and CEO of Thai travel retail company King Power, whose name adorns Leicesters stadium. That dossier needs to be released to save Burnley. El Kashashy remained in the background until Sandgaards purchase of CAFC was announced, but then reappeared at Burnley, where The Athletic reported on 28 October that Farnell and Elkashashy had made a rival 200M bid for Burnley FC. (Egyptian 9.65 billion = US$ 620M = UK440M). Id really want to work with the leadership of the Government of Dubai, he responded when asked what hed be doing if he wasnt involved in business. This is ahead of a consortium led by sports lawyer Chris Farnell and businessman Mohamed El Kashashy. Phil Jones may be missing from the Manchester United squad but did you catch his cameo on HBO's Succession? It is believed El Kashashy has been attracted by one of the Premier League's best-run clubs and is prepared to back manager Sean Dyche with major investment to improve his squad. His only signing this summer was Brighton midfielder Dale Stephens, while Joe Hart, Aaron Lennon and Jeff Hendrick were all released when their contracts expired in June. Yet that is not in the wider interests of the game, or the self-interest of the big six. On 7 August 2020, the EFL tweeted the following statement: It was rapidly established that the three disqualified individuals were Elliott, Farnell, and Andre Mihail. Discussions over the takeover, which is being led by Mohamed El Kashashy and sports lawyer Chris Farnell, have been going on for the past 12 months and all parties are now waiting for the Premier League to rubber-stamp the deal. The previous summer was replete with talks of a Newcastle United takeover by a Saudi Arabian consortium involving Crown Prince Mohammed bin Salman. Burnley are the subject of a 200m takeover bid from Egyptian businessman Mohamed El Kashashy and lawyer Chris Farnell. Last updated on 28 October 2020 28 October 2020. Joke, https://www.mirror.co.uk/sport/football/news/burnley-set-200m-takeover-egyptian-22920510.amp?fbclid=IwAR1hTMii6HPxIRsuwSOqsxaszEUJwRIO434bE_SMgBakWXhJ69I4Ljs9w24, https://www.bbc.co.uk/sport/football/54723696. The consortium had been in negotiations with Burnley chairman Mike . Reports claim that contracts have now been signed and exchanged while proof of funds has also been established. Not a done deal in any manner of speaking. In Sean Dyche, they get a manager who has enabled them to punch far above their economic weight, as his average annual net spend of 9 million indicates. Previous work experience includes roles as an assistant brand manager at Coca-Cola Egypt, a business and brand manager at American multinational goods company Procter & Gamble, and currently as a managing partner of Beta-Infra. Cheshire-based Farnell has recently had a ban overturned from owning a club overturned by the Football League after issues with his attempt to buy League One club Charlton earlier this year. Last updated on 22 December 2020 22 December 2020. RichardJollyalso writes for the National, the Guardian, the Observer, the Straits Times, the Independent, Sporting Life, Football 365 and the Blizzard. . Shahid Khan paid between 150 million and 200 million for Fulham in 2013. Should anyone manage to pull up the drawbridge, remove relegation and ringfence the division then Burnleys value would mushroom. By Shadrack Andenga Odinga shadrackandenga@gmail.com English Premier League side Burnley is set for a 200 million pounds takeover by an Egyptian businessman, the English media reported on Thursday. The 41-year-old is said to be intending to proceed with a 200million bid for the club alongside partner Farnell, but theres little out there about him in the press, aside from an interview with business outlet The National News in 2014. We also may change the frequency you receive our emails from us in order to keep you up to date and give you the best relevant information possible. source of funds - which was allegedly the problem with Nimer's application to the EFL for Charlton. in time for Clarets manager Sean Dyche to be active in the January transfer window. Do not miss your chance to land the 250,000 in this weekend's Super 6 round. I could not agree more with everything said so far. Share on Facebook; Share on Twitter; . Dyches methods may lack aesthetic appeal but they have tended to work and suggest this seasons slow start is just that. Burnley owner Garlick has the lowest net worth of any Premier League owner, and has been sole chairman of the Clarets since 2015. Burnley are third-bottom of the Premier League with no home goals and only a point to show after five games yet two consortiums are vying to take over their ownership. Analysis and opinion from our chief football writer. It was also reported that they claimed to have signed a Sales & Purchase Agreement and provided proof of funds while they were waiting on a result of a fit and proper persons test from the Premier League. Mohamed El Kashashy and Chris Farnell have pulled out of takeover talks to buy Burnley Football Club.. ALK Capital is now the only party . The 53-year-old is worth $5.8bn (4.41bn) at the time of writing, according to Forbes, up from $4.4bn in April. A rival consortium, fronted by lawyer Chris Farnell and Egyptian businessman Mohamed El Kashashy, appear to have leapfrogged American sports investment company ALK Capital as favourites to buy Burnley Football Club. 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. NY 10036. He has written for the FourFourTwo website since 2018 and for the magazine in the 1990s and the 2020s, but not in between. Although the Newcastle takeover failed to materialise due to various geopolitical complexities, Burnley are now set for a takeover, with an Egyptian businessman interested in investing his fortunes in the Premier League. A Washington Times feature from 2007 supports this timescale, saying he had spent six years based in Dubai working in brand management and marketing before returning to Egypt in 2007 to take a job with an international media company in Cairo (believed to have been Mindshare). Burnley have been seriously weakened since last summer by releasing out-of-contract players and not replacing them.

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