Visit our corporate site (opens in new tab). By Ahmed El-Ramady . Sean Dyche jokes around as Man City rumours intensify. The Egyptian businessman Mohamed El Kashashy is behind a potential 200 million takeover. He is now free to pursue his bid with El Kashashy, which it is believed will be about 200m. Everton owner Moshiri had invested in Arsenal before taking a 49.9% stake in the Merseyside club in 2016. And with football in a state of flux, Premier League proposals threaten financial models. According to 'The Mirror' Egyptian businessman Mohamed El Kashashy has already signed sale and purchase agreements. As always you can unsubscribe at any time. Yet that is not in the wider interests of the game, or the self-interest of the big six. . 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!'. How to get into football - the most popular sport in the world, with clubs and facilities throughout the UK. The Cheshire-based lawyer was handed a ban after issues arose during an attempt to buy Charlton earlier this year. Burnley are the subject of a 200m takeover bid from Egyptian businessman Mohamed El Kashashy and lawyer Chris Farnell. He is someone that both Chris Farnell and I have known for some time.. Son and Kane combine again to beat Burnley. According to a talkSPORT rich list, he was worth 1.3bn as of May this year. 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. These are not senior positions at all. The report also claims that the Egyptian businessman has been keen on the takeover for more than a yearnow. 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. I have just checked my calendar to make sure it isn't April 1st. e-mail; 9. Does anyone involved with our Dossiers have connections with any Mirror journalists or Burnley supporters groups, best to let them know ASAP. If Think Food LLC is the foundation and on-going source of his claimed wealth, one might expect to find more recent information. source of funds - which was allegedly the problem with Nimer's application to the EFL for Charlton. The 53-year-old is worth $5.8bn (4.41bn) at the time of writing, according to Forbes, up from $4.4bn in April. Burnley takeover clarity can help Clarets kickstart Premier League season, El Kashashy and Farnell stance on Burnley takeover as decision on club future looms, El Kashashy, Farnell, ALK Capital and inside the Burnley FC takeover, ALK Capital LLC stance on Burnley takeover amid rival interest in Clarets, Who is Mohamed El Kashashy? I hope Burnley fans are ready for the fight, otherwise it will most certainly end in tears. All rights reserved. However, BBC Sport understands that Farnell and El Kashashy are in talks with major shareholders at the club. Burnley are on the verge of being taken over in a deal worth around 200m by Egyptian businessman Mohamed El Kashashy. Egyptian businessman Mohamed El Kashashy has pulled out of a potential deal to buy Premier League club Burnley, according to the BBC. As always you can unsubscribe at any time. The lawyer had previously been involved in talks with Bury, having briefly served as a director at Wigan. Heres how it works. Italian businessman Radrizzani took full ownership of Leeds United in 2017, taking over from previous incumbent Massimo Cellino. A dynamic, decisive C-Level executive with substantial change and growth leadership experience. Farnell was previously involved in talks over the future of Bury and was briefly a director at Wigan. Their supporters groups and trust (if they have one) needs warning, and quick. The east Lancashire side have been looking to raise investment for many months. . The takeover is being led by El Kashashy, who is based in Dubai and made his . Burnley chairman Mike Garlick is preparing to give over his share of the club to a new owner in a 200million deal. His wealth sits at $4.5bn (3.42bn), according to Forbes, up from $4bn in April. (pay-walled) The proposed American takeover of Burnley is now in doubt after a rival bid led by Cheshire-based sports lawyer Chris Farnell and Egyptian entrepreneur Mohamed Elkashashy cleared a significant regulatory hurdle, The Athletic has learned. The food and leisure magnate is reportedly involved in talks to buy the Clarets. 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. been raising funds to support the club, to pay players and staff wages. 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. Something went wrong, please try again later. 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. Takeover talk continues to swirl around Burnley with Egyptian businessman Mohamer El Kashashy and sports lawyer Chris Farnell confident of securing a deal for the club. According to the Mail, he is worth an estimated 198m. Heres everything we know about Mohamed Elkashashy. 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. This is the full list of Egyptianbillionairesaccording toForbes (28 Jun 2020): Perhaps the data the Mirror accessed was in Egyptian pounds? Egyptian businessman Mohamed El Kashashy and solicitor Chris Farnell pull out of a potential deal to buy Premier League club Burnley. Farnell recently had a ban from owning a club in England overturned by the Football League. Egyptian businessman Mohamed El Kashashy and solicitor Chris Farnell have pulled out of a potential deal to buy Burnley. Thu 29 Oct 2020 08.46 EDT Last . By then he will probably need it, for though Burnley have been reliably buoyant over the past few seasons this one has started disappointingly. We recognise that some material used in or referred to by this website may be protected by copyright. Until, anyway, rather overshadowing the low-profile deals for Dale Stephens and Will Norris, it became apparent that Burnley could be transferred. His involvement in Paul Elliotts consortium, which intended to take over Charlton Athletic from the then-owners Nimer and Southall, was confirmed on 3 July 2020. An absolute disgrace if they are allowed to take over. And yet much of the value comes simply from one thing: Premier League status. Last week, a source told the BBC that the sports investment firm, run by United States-based businessman Alan Pace. Burnley: Clarets subject of 200m takeover bid by Mohamed El Kashashy & Chris Farnell. El Kashashy, Mohamed Sayed Zein (aka Elkashashy) . The deal involves sports lawyer Chris Farnell. 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 expect to remain at the site into the morning, 10 key money changes coming in May including tax credits, Ofgem price cap decision and Tesco deliveries, Big changes are coming for Brits this month including cost of living payments, 200 energy help and interest rates, Single mum distraught after 'lifeline' car used to get her disabled son to hospital is stolen from outside her home, Connie Cushnaghan had her car stolen from outside her home and has had to pay 800 so far to have it recovered and repaired, Attempted murder arrest after Preston stabbing leaves man with serious injuries, Police believe the 22-year-old victim was stabbed at an address on Ribbleton Avenue before being found on Blackpool Road, How much do you know about King Charles III? 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. 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. Extensive international operations, financial and commercial knowledge, who has led and managed organizations in a variety of industries, is how he describes himself in the About section. Range Rovers and bitches already on order. The Fulham owner and chairman was confirmed as owner of NFL franchise Jacksonville Jaguars in 2012 and completed his Fulham takeover the following year. 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. The dispute, which began April 19, had sidelined workers who do an . Comoros Egypt. 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. Can you name the 100 most valuable players in the world? The best features, fun and footballing quizzes, straight to your inbox every week. I bet Farnell's already spent a few quid upgrading his office security. They are overachievers on the pitch, too, with two top-10 finishes in the last three seasons. 14/11/2020. 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. 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.. Farnell and A. Mihail resigned as directors of ESI on 10 Aug and CASTrust reported on 19 Aug, Lots happening again. And then there is the issue of Burnley itself, a town of 88,000 people in one of the more deprived parts of the country. Burnley are currently third bottom of the Premier League, with one point from their opening five games. Analysis and opinion from our chief football writer. Since April, his wealth has climbed from $5bn to $7.1bn (5.39bn) according to Forbes. El Kashashys Think Food LLC appears to have no connection with the international Think Food Group founded by Jos Andrsin 1993. 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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. 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 takeover is being led by El Kashashy, who is based in Dubai and made his . Andrea Radrizzanis 45 million purchase of Leeds, even if it then required further investment, feels money well spent. The Chelsea owner sparked the rise of the super-rich owner in Premier League football when he took over as owner of the London club back in 2003. Goal reported the Emirati's net worth at $20bn (15.19bn). 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. The proposed deal is said to be worth around 200million.. Farnell was previously involved with Charlton Athletic and subsequently banned from being a director of a football club.. 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. The latest rumours and stories from around the world of football. This is ahead of a consortium led by sports lawyer Chris Farnell and businessman Mohamed El Kashashy. 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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. Its amazing work theyre doing and Id really love to be in a position to help them build and achieve their vision for this great city.. This means that we may include adverts from us and third parties based on our knowledge of you. Experience includes working with private equity investors/boards, improving performance and profitability with decisive change management and growth leadership . We use your sign-up to provide content in the ways you've consented to and improve our understanding of you. Everything you need to know to make sure you never miss a moment. Last Updated: 30th October, 2020 11:21 IST Premier League Club Burnley Set For 200m Takeover By Egyptian Tycoon Mohamed El Kashashy . Although they had not failed the test, they also had not been informed they had passed it, two months after their interest in Burnley first became public. New York, So what does 200 million buy? It is possible El Kashashy has an interest in financial services. However, Farnell is still being investigated by the Solicitors Regulation Authority about his actions during his time involved with Charlton earlier in the year. It still sounds an overestimate in the light of his stated business background. 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. PL relegation fight: What are the remaining games? Executive proficiency is demonstrated in formulating and implementing creative strategies and initiatives that produce major improvements in operational and earnings performance.. 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). It is being said that Burnley are close to a 200 million major takeover by an Egyptian food magnate, El Kashashy. 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. 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. Interestingly, Farnell recently had a ban lifted against him from being an owner of a football club, following his previous attempt to acquireCharlton Athletic. 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. Not a done deal in any manner of speaking. It is just a question of when and how and how much. It had been thought American sports investment firm ALK Capital were in pole position to buy the Clarets. A fresh takeover attempt has emerged at Burnley with Egyptian businessman Mohamer El Kashashy and sports lawyer Chris Farnell fronting a bid. have been competing with Egyptian businessman Mohamed El Kashashy and sports lawyer Chris Farnell to buy the Clarets. 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).