American Investment group, ALK Capital LLC, headed by Alan Pace, are increasingly likely to complete their deal to takeover Burnley football club.
As reported in The Times, the Premier League looks ready to approve their £200 million offer for the Lancashire based team. There is also interest from a rival group, Mohamed El Kashashy and Chris Farnell head up another group of interested investors.
Burnley Takeover Close to Completion
Alan Pace is the Former President of MLS Team Real Salt Lake
Alan Pace has held his role as Managing Partner at ALK Capital since October last year and will become the chairman of Burnley if the takeover goes ahead. Mike Garlick and John Banaszkiewicz, who together own 77.44 per cent of the club, are thought to be ready to sell and secure the club’s long-term future.
The deal is supposedly “imminent” with all parties keen to conclude the business before Christmas. This is likely to help the new owners utilise the January transfer market especially as Burnley sith in 19th place. The talks have been ongoing with Mike Garlick, who is keen to ensure the new owners will improve the club.
As reported by Lancslive, the takeover group has also stated they wish to keep Sean Dyche in their plans. In an official statement, Mike Garlick assured fans the club’s future is paramount: “Any potential investment needs to support the club’s long-term sustainability and retain its position as a cornerstone of the local community.”
Burnley’s current form will supposedly not deter the new investors who remain calm in the face of a tough season.
Sean Dyche Highlighted a Lack of Funding After the 5-0 Defeat Against Manchester City
With a potential funding boost, Sean Dyche may be able to make up for lost time in the transfer market. Burnley have a small squad and some new additions would be a massive boost to their survival chances. However, there has been no direct promise of a January war chest. Although Sean Dyche will likely press any new owner for some investment.
Dyche, the longest-serving Premier League manager, is adamant the lack of funding cannot go on. He said: “You can’t forever just work on a net spend of £9 million a year. It is not impossible but it’s improbable that is going to work over a long period.”
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