Burnley’s £170million takeover is FINALLY completed as American management firm ALK Capital purchase 84 per cent stake in the Clarets just in time for the January transfer window
- Burnley’s takeover by ALK Capital was completed late on Wednesday night
- The American management firm have purchased a controlling 84 per cent stake
- The deal was completed just in time for the January transfer window
- Incoming chairman Alan Pace will speak with manager Sean Dyche on transfers
Burnley’s protracted takeover was finally completed on Wednesday night, with ALK Capital confirmed as the club’s new owners.
Incoming chairman Alan Pace is set to speak with manager Sean Dyche on Thursday after the American management firm concluded the deal in time for next month’s transfer window.
Sportsmail understands ALK purchased a controlling 84 per cent stake for around £170million.
Burnley’s £170million takeover by ALK Captial was completed late on Wednesday night
The move comes just in time for Sean Dyche to strengthen in the January transfer window
Pace, 53, was formally managing director at Citi bank and chief executive of Real Salt Lake as they won the MLS Cup in 2009.
Former shareholders Mike Garlick and John Banaszkiewicz will remain as directors at Turf Moor to ensure a smooth transition in ownership.
Garlick told the Burnley’s official website: ‘This investment represents a natural progression for Burnley Football Club.
‘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.
‘My tenure as chairman has always been about ensuring Burnley is a sustainable football club, and this investment provides a long-term plan to maintain that philosophy, whilst driving evolution and innovation.’
More to follow.