Espanyol's new owners target Champions League berth

Barcelona - Struggling La Liga side Espanyol's new Chinese president Chen Yansheng has targeted Champions League football within three years, a day after taking charge of the Barcelona-based club.

Chen's Rastar Group, which specialises in model cars, completed its 54 percent takeover of the club on Wednesday.

"The internal objective we have in mind is to get into Europe next year," he said.

"I hope that it will be less than three years to be in the Champions League, although the coach is present and I don't want to put too much pressure on him."

Espanyol are currently in 14th place in La Liga, just five points above the relegation zone.

Moreover, the club, which was struggling with debts to the tax authorities, has perennially been overshadowed by city rivals and European champions Barcelona.

"I believe that a city like Barcelona can have two powerful clubs," added Chen.

"With our presence, Espanyol will not have to sell players for economic reasons."

The deal is the latest example of the rising influence of the Asian market in Spanish football.

"The investment is the first step in the internationalisation of the Rastar Group and also the first step in the internationalisation of Espanyol."

Earlier this year, China's Wanda Group bought a 20 percent stake in 2014 La Liga champions Atletico Madrid.

Singaporean businessman Peter Lim is also the major shareholder in Valencia.

Chen also confirmed he will attend Saturday's home game against Villarreal.