Barcelona - Espanyol's new Chinese owner says he wants the Barcelona-based club to compete in the Champions League "within three years."
Businessman Chen Yansheng was presented as the Spanish club's owner on Thursday after finalizing his purchase of a controlling 54 percent stake.
Also read: CHAN 2016 LIVE: Tunisia vs Nigeria
His says his ambition is to turn Espanyol into a rival of crosstown powerhouse Barcelona.
Chen says "I am sure the city of Barcelona can have two strong clubs," adding he hopes "to have the club debt-free and in the Champions League in three years."
Espanyol has never played in the Champions League. It twice reached the final of the UEFA Cup, the current Europa League, losing both times in penalty shootouts.