ALK head Alan Pace is expected to take over at the helm if the final details can be thrashed out in the coming weeks. The takeover is being led by El Kashashy, who is based in Dubai and made his name in the Food and Leisure industry. 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. It may have risen since then, but perhaps only temporarily. Garlick is said to have admitted that his club stands to lose at least50 million because of the coronavirus pandemic. Subscribe to FourFourTwo for just 9.99 per quarter, for a limited time only. New York, Farnell recently had a ban from owning a club in England overturned by the Football League. As always you can unsubscribe at any time. . One bid is from Egyptian entrepreneur Mohamed El Kashashy and Chris Farnell; . Currently not on other news channels & that link was to the Mirror. 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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. They have less potential than big-city clubs like Aston Villa, Leeds or Newcastle, all recent Championship clubs but who all promise a long-term sustainability in the Premier League. The pair had been involved in American sports before arriving at Anfield, most notably taking charge of the Boston Red Sox in 2002. He is now free to pursue his bid with El Kashashy, which it is believed will be about 200m. The report suggests that El KashashyandFarnell have already provided the requisite proof of funds for the takeover. Think Food raised housing allowances in response, which cut its profit by between 15 and 20 per cent, Mr El Kashashy said. And yet much of the value comes simply from one thing: Premier League status. Burnley chairman Mike Garlick is preparing to give over his share of the club to a new owner in a 200million deal. Egyptian businessman Mohamed El Kashashy and solicitor Chris Farnell pull out of a potential deal to buy Premier League club Burnley. Also Read |Lionel Messi to Burnley? Like Kroenke, Khan has a background in American sports. 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. 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. 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. According to Bristol Live, he was worth 450m as of April this year. By Ahmed El-Ramady . Jisheng, from China, completed his Southampton takeover in 2017 but reportedly put the club up for sale this year. He appealed that, claiming he filled in a form incorrectly, and was this week . 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. 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. His net worth has risen from $2.2bn to $2.5bn (1.9bn) since April, according to Forbes. 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. Answering a written question from Charlton Athletic Supporters Trust, Elliott replied: Mohammed is a member of the consortium. Burnley are the subject of a 200m takeover bid from Egyptian businessman Mohamed El Kashashy and lawyer Chris Farnell. The Egyptian businessman Mohamed El Kashashy is behind a potential 200 million takeover. Last updated on 28 October 2020 28 October 2020. It has been reported that Egyptian businessman, Mohamed El Kashashy, is set to take over Premier League side Burnley in a 200 million deal. Since Elliotts consortium did not actually own the club, the claim they were raising funds to support the club, to pay players and staff wages provokes a number of questions, such as who the funds were raised from, and with what security? The pair have signed a Sales and Purchase Agreement (SPA), have provided proof of funding and are awaiting Owners' and Directors Test clearance for a takeover attempt believed to be worth around 200million. That's a 48% saving! He is now free to pursue his bid with El Kashashy, which it is believed will be about 200m. (Photo by Visionhaus/Getty Images). Both parties are keen to takeover Burnley, whose chairman Mike Garlick has been looking at outside investment for a number of months. The best features, fun and footballing quizzes, straight to your inbox every week. He and his son, Fulham director Tony Khan, are also involved in All Elite Wrestling. For every clued up Burnley fan there'll be 10 celebrating like they've won the lottery. How can this happen? in their last Premier League game on Monday lifted them out of the top flight's relegation zone. 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! While youre here,subscribe to FourFourTwo and save 48% available until Christmas. I bet Farnell's already spent a few quid upgrading his office security. Thu 29 Oct 2020 08.46 EDT. At the time of writing, Forbes puts his net worth at $12.7bn (9.65bn), up from $11.3m back in the spring when the publication posted its most recent billionaires list. 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Plus, Joey Barton, Jim Ratcliffe at Nice, a San Siro Saga and the 40 goal club, How to get the best value for watching the end of the Premier League and Champions League seasons in the UK. The Chinese businessmans past lies in the landscape development and construction industries, and his spell in charge of West Brom has included a relegation in 2018 and a promotion in 2020. Does anyone involved with our Dossiers have connections with any Mirror journalists or Burnley supporters groups, best to let them know ASAP. Everything you need to know to make sure you never miss a moment. 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 . While every effort has been made to avoid infringing copyrights, if we have inadvertently done so we will remove the offending material if informed and proof is shown. The food and leisure magnate is reportedly involved in talks to buy the Clarets. Heres everything we know about Mohamed Elkashashy. As a Championship club, or even one in imminent danger of dropping down a division, they would not be nearly as attractive to investors. This means that we may include adverts from us and third parties based on our knowledge of you. Further investigation by a professional recruiter revealed El Kashashy was a junior marketeer at Coke (possibly at the lower status bottling company) and a routine brand manager at P&G (limited access). Mohamed El Kashsashy is aStrategic Private Equity Director based in Egypt. LinkedIn Mohamed EL BAKKALI . 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. Burnley are currently third bottom of the Premier League, with one point from their opening five games. 19 Abdullah bin Musa'ad bin Abdulaziz Al Saud - 198m. Farnell recently had a ban from owning a club in England overturned by the Football League. His main business venture is Think Food LLC, which operates several restaurant chains around the United Arab Emirates. 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. Before founding Think Food in 2011, Mr El Kashashy, from Egypt, held a number of . 3rd December 2020, 5:46 pm. 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'ACCESS ALL AREAS' pass to exclusive interviews with the biggest and best names in the game. Read about our approach to external linking. Egypt international Ahmed Hassan Kouka found the back of the net for Alanyaspor in. been raising funds to support the club, to pay players and staff wages. 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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. The deal involves sports lawyer Chris Farnell. Analysis and opinion from our chief football writer. Or by navigating to the user icon in the top right. 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. It can only go in one direction. El Kashashys Think Food LLC appears to have no connection with the international Think Food Group founded by Jos Andrsin 1993. 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. Egyptian businessman Mohamed El Kashashy and solicitor Chris Farnell have pulled out of a potential deal to buy Burnley. 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. El Kashashy and Farnell have provided proof of funds and the final obstacle is to pass the Premier League's 'Owners' and Directors' test' before the takeover can be completed. 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). The consortium had been in negotiations with Burnley chairman Mike . One good season and one poor one in East Lancashire and perhaps Blackburn would be worth 200 million and Burnley 50 million, rather than vice versa. 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. Khans net worth sits at $7.8bn (5.93bn), according to Forbes. We recognise that some material used in or referred to by this website may be protected by copyright. Global ranking: Name: Citizenship: Net worth (USD) 330: Nassef Sawiris Egypt: 5 billion: 590: Mohamed Mansour Egypt: 3.3 . According to The Mirror El Kashashy and Farnell have already provided proof of funds and the final obstacle is to pass the Premier Leagues owners and directors test.. . 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. Executive proficiency is demonstrated in formulating and implementing creative strategies and initiatives that produce major improvements in operational and earnings performance.. When trying to buy into Charlton Athletic he was briefly subject to an EFL ban for a technical irregularity, though he successfully overturned the sanction on appeal and the league has confirmed he is free to talk to other clubs. Get the latest Burnley FC news delivered straight to your inbox each day - sign up for free email updates. I have just checked my calendar to make sure it isn't April 1st. However, it's [] (Two more here and here) . The deal involves sports lawyer Chris Farnell. Burnley could soon be set for new ownership. 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. 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. 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. Harris is a founder of investment group Apollo Global Management, and his fellow owners at the London club include David Blitzer and chairman Steve Parish. 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. Share on Facebook; Share on Twitter; . Last week, a source told the BBC that the sports investment firm, run by United States-based businessman Alan Pace, wanted a deal finalised in time for Clarets manager Sean Dyche to be active in the January transfer window. Tragedy as Lancaster dad rescued from indoor caves dies of his injuries, Carl O'Keeffe passed away on Sunday, April 30, following the incident at Kong Adventure Centre in Keswick, Preston fire crews due to remain at Old Orphanage into the morning, Six fire crews were called to Mount Street in Preston earlier this evening. The sports lawyer appealed to the EFL that he had made an administrative error, which resulted in a bitter conflict with the body. Tottenham are owned by ENIC Group, whose owners include Joe Lewis and current Spurs chairman Daniel Levy. Havertz grabs brace as Chelsea bash Burnley, Struggling Burnley hold Chelsea at Stamford Bridge, Tragic night for Arsenal as Aubameyang scores own goal. That dossier needs to be released to save Burnley. Burnley on verge of 200m takeover by Egyptian businessman Mohamed El Kashashy, Mohamed El Kashashy (left) and Chris Farnell, It is believed Mohamed El Kashashy is prepared to back manager Sean Dyche with major investment. Son and Kane combine again to beat Burnley. 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. Ashley, who made his fortune through his company Sports Direct, is worth $3.5bn (2.66bn) according to Forbes, up from $2.5bn in April. Quiz! If the dossiers are for anything now is the time. Test your knowledge. Under the ownership of the Abu Dhabi royal, the club has broken its transfer record many times over and won multiple Premier League titles. 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.