U.S. firm set to complete Burnley takeover

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US firm ALK Capital are set to complete the takeover of Premier League side Burnley imminently.

[ MORE: How to watch PL in the USA

Multiple reports claim the end game is near, as over six months of talks about a takeover has led to this sale with ALK’s managing director Alan Pace leading the bid.

ALK have a listed office in New York, NY and say they specialize in “acquisition and operations of modern sports, media, and entertainment assets and related technologies” and added that “ALK Capital combines its diverse expertise, experience, and creativity with its investor network to drive growth and maximize business potential while building sustainable companies and value.”

It is believed Burnley will cost ALK close to $270 million and it comes as a big boost to the Clarets as current chairman and majority owner, Mike Garlick, has restricted transfer funds in recent windows due to a potential sale.

According to our partners in the UK at Sky Sports, the deal will be ratified and announced before January 1, 2021.

“It was hoped that ALK’s managing director Alan Pace would attend Turf Moor on Tuesday to watch Burnley’s crucial match against United, the club he came close to buying less than two years ago. Instead, the takeover is set to be announced in the coming days, with Pace having reportedly passed the Premier League’s Owners’ and Directors’ Test.

“The imminent takeover, which is set to be announced before the January transfer window opens, is positive news for Burnley manager Sean Dyche, who has been without significant investment in his squad for several windows. Earlier this month a consortium led by Egyptian businessman Mohamed El Kashashy pulled out of talks to buy Burnley.”

Burnley will become the sixth current Premier League team who have American owners, after Liverpool, Manchester United, Arsenal, Crystal Palace and Fulham. While both Leeds United and Aston Villa also have US companies and individuals among their ownership groups.