Group that owns Burnley in England also taking over Spanish club Espanyol
The club said Monday that its current owners, Chinese group Rastar reached an agreement with VSL to join the holding company and 'participate in a strategic alliance that will position RCD Espanyol at the same level' as Premier League club Burnley, which is also part of the group.
'With this deal, Espanyol and the English club will be part of this investment group, which expands its interests by having a club in La Liga and another in the Premier League, although each will remain independent,' Espanyol said in a statement.
'This business integration formula allows for the coexistence of two historic clubs that will operate independently, although they will be supported by the same financial group,' Espanyol said.
Espanyol said the agreement is 'pending officialization and completion until all administrative procedures are formalised.'
The club said Rastar 'is not disassociating itself from Espanyol, but rather its shares will become part of this new investment vehicle that will have stakes in both clubs.'
Espanyol said that with this 'step forward, Rastar underlines a firm conviction that this integration into the VSL group will strengthen both the economic and sporting structure' of the club.
Espanyol, which was twice relegated in the decade or so under Rastar, finished 14th in the league's standings last season. The club's fans had been showing their disappointment with Rastar owner Chen Yansheng for years.
Financial details were not released by the club.
___
AP soccer: https://apnews.com/hub/soccer
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Winnipeg Free Press
an hour ago
- Winnipeg Free Press
What Trump's new weapons plan for Ukraine might mean
WASHINGTON (AP) — President Donald Trump has endorsed a plan to have European allies buy billions of dollars worth of U.S. military equipment that can be transferred to Ukraine as Kyiv looks for way to better defend itself against intensified Russian attacks. Trump announced the effort Monday during an Oval Office meeting with NATO Secretary-General Mark Rutte, who has been working with European countries to coordinate the purchase of U.S. weapons. The plan is designed to allow the U.S. to funnel more firepower to Ukraine to combat invading Russian forces during their summer military offensive while easing Washington's financial burden. Increased weapons shipments, combined with possible new penalties Trump has promised if a halt to the fighting isn't reached in 50 days, could push Russian President Vladimir Putin into peace talks that Trump has championed for months — so far with little to show for it. Here's a look at what Trump promised and what it might mean: What's the new Ukraine weapons deal Trump announced? The U.S. plans to sell Patriot missile batteries — systems ideal for shielding territory against incoming missile attacks — and other weapons to European allies that would be transferred to Kyiv. 'We're going to supply weapons to NATO at a large amount,' Trump said. Rutte said Germany, Finland, Canada, Norway, Sweden, the United Kingdom and Denmark would be among the buyers to supply Ukraine, and noted that 'speed is of the essence here.' Later Monday, during a meeting with his administration's faith office and business leaders, Trump said, 'They're going to deliver the weapons, and they're going to pay for 100% of the weapons.' The president had earlier teased the announcement, but the details of the transfers — exactly what munitions they would include, the specifics of their delivery and their timing— were unclear. Other parts of the administration deferred to the White House, where officials said details were still being worked out. On a call with the other foreign ministers of the Quad grouping — India, Japan and Australia — Secretary of State Marco Rubio 'underscored that it remains a priority of President Trump to bring the war to an end through a durable negotiated settlement,' State Department spokesperson Tammy Bruce said. German Defense Minister Boris Pistorius met with Defense Secretary Pete Hegseth at the Pentagon to discuss some details — particularly related to the Patriot batteries — and noted greater defense spending. 'We are determined to assume greater responsibility for Europe's deterrence and defense,' said Pistorius, whose government has offered to finance two additional Patriot systems. In addition to Germany, Greece and Spain are among the NATO members believed to have spare Patriots to send to Ukraine, as long as they are eventually replaced. U.S. officials said that anything to be supplied to Ukraine in the short term will have to come from existing stockpiles and that it will take several years to replace whatever is sent to Kyiv. What does Ukraine need from the U.S.? Russia has pounded Ukrainian cities with hundreds of drones and cruise and ballistic missiles that its air defenses are struggling to counter. At the same time, Russia's bigger army is making a new effort to drive back Ukrainian defenders on parts of the 620-mile (1,000-kilometer) front line. Trump announced last week that the U.S. planned to send more defensive weapons to Ukraine, following a prior pause in some deliveries during a review of U.S. stockpiles. Still, the president expressed frustration about U.S. resources going to Ukraine, reiterating Monday that 'this is not Trump's war. We're here to get it finished and stopped.' During the meeting with Rutte, he also praised European leaders for being willing to take on a larger responsibility for arming Ukraine — a far cry from once criticizing Europe for failing to spend more on defense. 'I have to tell you, Europe has a lot of spirit for this war,' Trump said. 'When I first got involved, I didn't think they did, but they do.' Why is Trump threatening tariffs to punish Russia? Trump again vented his frustrations about stalled negotiations to end the war, saying the U.S. will impose steep trade penalties if Moscow doesn't reach a peace deal with Kyiv in the next 50 days. 'Tariffs at about 100% — you'd call them secondary tariffs,' Trump said without providing details. Secondary tariffs would target Russia's trading partners in an effort to isolate Moscow in the global economy — potentially including nations that rely on Russia for oil and natural gas. Commerce Secretary Howard Lutnick later clarified that Trump was actually referring to economic sanctions, rather than tariffs. Separately, some Republicans close to Trump, including South Carolina Sen. Lindsay Graham, are promoting a bipartisan sanctions package targeting Russia that is working its way through Congress. Trump said Monday that 'I'm not sure we need it' given his threat for economic consequences if the fighting continues. But, he added, 'it could be very useful, we'll have to see.' An emboldened Russia has ramped up military offensives on two fronts in Ukraine, seeking an advantage before the fighting season wanes in the fall. Trump's 50-day deadline will allow Kremlin forces to further expand into the strategic eastern logistics hub of Pokrovsk, the capture of which would hand them a major battlefield victory and bring them closer to acquiring the entire Donetsk region. Russia's forces also have been pushing into Ukraine's northern Sumy region, where Putin hopes to create a 'buffer zone' to protect Russia's Kursk and Belgorod regions and defend against the possibility of surprise Ukrainian incursions. Why has Trump changed his tone toward Putin? Trump long boasted of his friendly relationship with Putin, repeatedly asserting that Russia was more willing than Ukraine to reach a peace deal. At the same time, Trump accused Zelenskyy of prolonging the war and called him a 'dictator without elections.' But Russia's relentless onslaught on civilian areas of Ukraine has worn down Trump's patience. In April, he urged Putin to 'STOP!' launching deadly barrages on Kyiv, and the following month he said in a social media post that the Russian leader 'has gone absolutely CRAZY!' Trump said Monday that he remains in frequent contact with Putin but questioned how much those talks have gotten him. 'My conversations with him are very pleasant, and then the missiles go off at night,' Trump said.
Winnipeg Free Press
an hour ago
- Winnipeg Free Press
To Whom it May Concern: Trump's tariff letters cause a stir among world leaders
Ninety trade deals in 90 days didn't happen early in President Donald Trump's second term. 'Liberation Day' panicked the financial markets in April. And bespoke trade agreements with dozens of countries, he has said, takes too much time. 'There's 200 countries,'' the president acknowledged. 'You can't talk to all of them.'' So Trump repackaged his plan to slap tariffs on almost every nation in a series of unusual presidential letters to foreign leaders that set new thresholds not just for trade negotiations — but also for diplomatic style, tone and delivery. Most are fill-in-the-blank form letters that include leaders' names and a tariff rate. Words are capitalized using Trump's distinct social media style. A few typos and formatting issues appear throughout. They generally include an opening flourish of salutation, a grievance, the threat of a big jump in tariffs, a new deadline and an escape ramp allowing that 'we will, perhaps, consider an adjustment to this letter' if certain conditions are met. Rather than typical diplomatic talk of things like enduring mutual respect, Trump closes with, 'Thank you for your attention to this matter!' and 'Best wishes,' followed by his signature of three long strokes linked by and about 14 short ones. He appears to have paid special attention to his letters to Canada, with which he's been fighting and taunting for months, and Brazil, which he singled out for 50% tariffs apparently based on a personal grudge rather than economics. A negotiation tactic The good news for the leaders of foreign countries, Trump suggested, is that if he sent you a letter, he wants to negotiate. 'A letter means a deal,' he said during a Cabinet meeting. 'We can't meet with 200 countries.' But he's also managed to make his erratic trade policy baffling for American trading partners eager to negotiate a way to dodge his wrath. The president escalated a conflict he started with America's second-biggest trading partner and longstanding ally, raising the tariff — effectively a tax — on many Canadian imports to 35% effective Aug. 1. On Saturday, Trump announced more tariffs still, this time on two of the United States' biggest trade partners: the European Union and Mexico, at 30% each. And it's far from clear that these tariffs would benefit Americans' bottom lines. Trump's threat to boost import taxes by 50% on Brazilian goods could drive up the cost of breakfast in the United States by making staples of the American diet, such as coffee and orange juice, more expensive. Reception has been … spotty The response to the letters, which the White House says will also be mailed, has been mixed. Canadian Prime Minister Mark Carney's office issued a mild statement acknowledging the new Aug. 1 deadline and suggesting he would stay the course 'steadfastly defend(ing) our workers and businesses.' Brazilian President Luiz Inácio Lula da Silva, meanwhile, vowed retaliatory tariffs and ordered his diplomats to return Trump's letter if it ever physically arrives at the presidential palace in Brasilia. 'Respect is good,' Lula told TV Record. 'I like to offer mine, and I like to receive it.'
Toronto Sun
an hour ago
- Toronto Sun
'Apoplectic:' Competition Bureau drops probe into U.S. company's sightseeing dominance in Banff/Jasper
The Jasper sky tram was bought by American company Photo supplied by Jasper tourism A federal competition regulator's decision to drop its probe into an American company's dominance of the Banff-Jasper sightseeing market appears to be Canada caving to the U.S. amid an ongoing tariff war, says a businessman who pushed for the investigation. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account The Competition Bureau of Canada last year launched an investigation into Colorado-based VIAD's acquisition of the Jasper SkyTram that was approved by Parks Canada in the summer of 2024. The purchase pushed the company's market share of the sightseeing sector in Banff and Jasper national parks to more than 90 per cent. In a letter to Adam Waterous, owner of Mt. Norquay ski resort, the bureau said it could find no evidence that the acquisition noticeably exacerbates domination of the privately operated tourist attraction in Canada's two most-visited national parks. 'Based on the information obtained by the Bureau, it does not appear the acquisition has resulted or is likely to result in a substantial lessening or prevention of competition,' states the April 30 letter. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. 'Accordingly . . . I am writing to inform you that the commissioner has discontinued the inquiry.' VIAD, through its subsidiary Pursuit, operates the Banff Gondola at Sulphur Mountain, Lake Minnewanka Cruise, Columbia Icefield Adventure, Jasper's Maligne Lake Cruise and the Columbia Icefield Skywalk, which comprise the lion's share of that market of paid attractions. It also owns Brewster Express bus line and 10 hotels throughout those parks (two are in Banff), while also operating the iconic Prince of Wales Hotel in Waterton Lakes National Park. Since 2011, Parks Canada has approved VIAD's applications for one new sightseeing attraction, an expansion of a tourist venue, eight hotel purchases and one hotel construction, which boosted the company's share of the market from 50 per cent to 85 per cent, said Waterous . This advertisement has not loaded yet, but your article continues below. At the same time, Parks Canada has repeatedly turned down Norquay's bid to build a gondola from the Banff townsite to its ski hill, insisting the plan was ' found not to be feasible due to non-conformance with key park policy and legislation. ' Unfair treatment appeases U.S. trade war says ski hill owner Waterous said the competition bureau's refusal to address what he calls an obviously unfair and detrimental monopoly is an abdication of its role and smacks of Ottawa seeking to avoid inflaming a trade war instigated by U.S. President Donald Trump. 'Canadians are going to be apoplectic that the federal government is not prepared to challenge an American monopoly in the national parks,' Waterous said Monday, adding the move is akin to Ottawa's decision last month to nix its digital sales tax (DST) at the insistence of the U.S. amid tariff wrangling. This advertisement has not loaded yet, but your article continues below. 'This tariff war we're in is causing the federal government not to enforce regulations they normally would . . . its like the DST — things are being put on the shelf.' Waterous said it appears the competition bureau is reluctant to take action that would effectively criticize Parks Canada's decision to approve VIAD's acquisition of the Jasper SkyTram. The businessman said he spoke with a competition bureau official several weeks ago who 'explicitly told me they respect the decisions of other agencies and don't want to embarrass other (government) departments,' he said. He also said that official told him it's up to consumers to vote with their feet if they're feel they're faced with an unfair monopoly in the national parks. This advertisement has not loaded yet, but your article continues below. 'They determined visitors have alternatives — you don't have to go to Banff or Jasper . . . if you do, you can just go to a restaurant instead,' said Waterous. 'But the bureau never says there's not a monopoly there.' Waterous and the owners of Sunshine Village and Lake Louise ski resorts — who operate summer chair lifts — argue VIAD's ability to offer discounts on package deals magnifies a monopoly that unfairly funnels business away from them. The view of the Banff townsite and Sanson's Peak from the Banff Gondola's observation deck on the fourth floor of the upper terminal. Daniel Katz/Postmedia file The say that monopoly has also allowed the American firm to dramatically hike prices on attractions like its marquee offering, the Banff Gondola, while also contending it drives much of the negative traffic congestion in Banff town. On its website, VIAD has said the $25-million purchase of the Jasper SkyTram adds an attraction to its inventory that in 2023 drew 130,000 visitors. This advertisement has not loaded yet, but your article continues below. 'We will benefit from its deep competitive moat, economies of scale and scope, and the strong perennial demand for this iconic destination,' company president Steve Moster said in a statement in June 2024. The term ' competitive moat ' shows VIAD acknowledges its competitive invulnerability, says Waterous. In an email, competition bureau spokeswoman Sarah Brown reiterated the agency's investigation didn't uncover any violations. 'After careful review, the Bureau found that there was inadequate evidence to conclude that the transaction contravenes the merger provisions of the Competition Act,' she stated, adding its decisions aren't associated with any other government body. 'Our independence is core to the delivery of our mandate . . . when the bureau finds evidence that a transaction contravenes the Competition Act we take appropriate action.' BKaufmann@ X: @BillKaufmannjrn Editorial Cartoons NFL Golf NHL World
