Premier League: US investors complete takeover of Premier League side Burnley

 

It was announced that US investment group ALK Capital has completed its takeover of Burnley, acquiring a controlling 84 percent stake in the Premier League club.

 

Delaware-based ALK, which specialises in investments in the sport and media sectors, said its managing partner Alan Pace would take over from Mike Garlick as chairman.

 

Pace, the former president of Major League Soccer’s Real Salt Lake, said the move marked “the start of an exciting journey for the entire Clarets family”.

 

“With a rich heritage, a brilliant academy, and a passionate fan base, this club has solid foundations to build upon,” he said in a statement on the club’s website.

 

Garlick, who had held just under 50 percent of the club’s shares, will remain on ALK Capital’s new board of directors at Burnley.

'An exciting new chapter'.

A warm welcome to our new owners ALK Capital who have today completed their investment into Burnley Football Club.

Managing Partner, Alan Pace, will take over from Mike Garlick as Chairman.

— Burnley FC (@BurnleyOfficial) December 31, 2020

 

He said the deal represented a “natural progression” for the club, who are in their fifth consecutive season in the English top-flight.

 

“In Alan Pace and his team, we are welcoming committed investors to Turf Moor who will be living here in the local community and investing in the club, both on and off the football pitch, for many years to come,” he said.

 

One of ALK’s first priorities is likely to be a meeting with Dyche, who can expect fresh financial support in the January transfer window.

 

The manager said after Tuesday’s victory over Sheffield United that he had no knowledge of the deal, but it is understood moves were already underway by the new ownership to bring him up to speed on their plans.

 

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One result of the change in ownership could be an expansion of the club’s international scouting and transfer network. Commenting on Tuesday on the likelihood of adding to his injury-reduced squad in the coming weeks, Dyche offered a cautious take.

 

"We are going to be able to align ourselves if there are things on the market. If not, we will continue to work with the team we have," said the manager, who has been in charge of Turf Moor since 2012.

 

Burnley is 16th in the Premier League, five points above the relegation zone, and hosts Fulham 18th on Sunday.