"The Rastar Group, the primary shareholders of RCD Espanyol, have come to an agreement in recent hours with Velocity Sport Limited, an English-based organization that also includes American investors," stated the Spanish club Espanyol in a press release.

"Rastar is not severing ties with RCD Espanyol; instead, its shares will be included in this new investment entity that will hold interests in both clubs."

Espanyol will be the second club under VSL's ownership following the English team Burnley, but the clubs "will maintain their independence," the statement added.

"This business integration model allows for the coexistence of two historic clubs that will function independently, although they will benefit from the same financial group."

The Chinese group Rastar and owner Chen Yansheng have become unpopular among Espanyol supporters since their takeover in 2015, with the club being relegated from the top tier twice.

Earlier in July, Premier League club Crystal Palace was demoted from the Europa League to the Conference League due to a multi-club ownership issue also involving the French team Lyon, which had qualified for the former.

American businessman John Textor is the majority shareholder in Lyon but also holds a stake in Palace, who are preparing to appeal the ruling by UEFA, the governing body of European football.