American Takeover ?

[sinkov]

Daily Telegraph.

"American investment group in advanced talks over Burnley takeover. The company is headed by Alan Pace, a former president of MLS franchise Real Salt Lake who has previously tried to buy Sheffield United"

An American sports investment company is in advanced talks with Burnley about a takeover of the Turf Moor club.

ALK Capital is close to striking a deal to take majority control of the Premier League club.

The company is headed by Alan Pace, a former president of Major League Soccer franchise Real Salt Lake who has previously tried to buy Sheffield United.

Mike Garlick, the Burnley chairman, is the club’s majority shareholder with a 49.24 per cent stake and John Banaszkiewicz has a 28.2 per cent shareholding.

It remains to be seen if ALK Capital secures Garlick and Banaszkiewicz’s entire shareholding but Burnley’s prospective new owners want to take a hands-on role in the way the club is run.

Pace was managing director of now defunct US bank Lehman Brothers for 12 years until 2006 and later joined Citigroup, where he worked in various senior roles, most recently as global head of securities services sales.

He set up ALK Capital with US businessman Dave Checketts in October last year, around the time they were interested in buying Sheffield United.

Checketts was owner of Real Salt Lake and president of the NBA basketball franchises Utah Jazz and New York Knicks.

He is understood to be working as an advisor on ALK Capital’s bid to buy Burnley.

According to its website, ALK Capital describes itself as specialising in the “acquisition and operations of modern sports, media and entertainment assets, and related technologies.”

A spokesperson for ALK Capital said: “ALK Capital is aware of media speculation linking it with a potential investment in a Premier League football club. ALK Capital is unable to provide any comment at this time.” Burnley have declined to comment.

Telegraph Sport reported last week that an American consortium was in talks about buying Burnley at a time of growing friction between Garlick and manager Sean Dyche.

Dyche has spoken of his frustration at Burnley’s struggles to strengthen their squad before the close of the transfer window on Monday week and the failure to agree new contracts for players.

It remains to be seen if ALK is able to complete a takeover before the transfer window closes but the uncertainty over the future of the club is understood to have been an added complication regarding recruitment in recent months.

Burnley are on the verge of completing a £1 million deal for Brighton midfielder Dale Stephens and are weighing up a bid for Liverpool and Wales forward Harry Wilson, who spent last season on loan at Bournemouth.

Wilson, 23, is among the forwards Dyche has a strong interest in but there are numerous hoops still to jump through and a deal was still a way off happening as of Wednesday afternoon.

[barrie_burn]

So we could be taken over by Mormons.Expect a lot of smartly dressed young men to be knocking on your doors.

Don't they allow more than one wife? If so BT will probably be backing the bid.

[WillPark]

Haha Barrie
But it will be sad if foreign investors take control of the club. Then again... the way things are now I welcome some sort of change. But if Americans take over the club they’ll quickly go to war against the Little old Burnley mentality

[alfinyalcabo]

Please ,please ..no..

[sinkov]

Let's get them in and have some fun, what's the worst that can happen, we get relegated and run out of money ? That's looking more and more likely to happen with Garlick in charge anyway. Bring it on.

[Altobelli]

The thing is, a rift has been brewing with Dyche and the Board for at least a year, something is terribly wrong at our Club, so, do you want change ? or do you want to see the past few years in the money league p!ssed down the toilet ?

Apparently this has been going on in whispers for at least a week now, and all due diligence has been done with with ticking box's by seing local and reginal councils.

I find it strange that the news has hit the fan today, just when we apparently have not got a pot to p!ss in yet we go for 2 players, one who is valued around £20 !

[alfinyalcabo]

Sorry,I can't buy in to anything American.

[outwoodclaret]

I have been to the USA twice and they are fine and dandy. I have been to New York, Long Island, Boston & South Dakota and I had no problems. I like Democrats but when they start interfering in our politics I will tell them to throw their own tea into the harbour. Thank you. And I am glad we lost the Revolutionary War! Yes and one of my ancestors fought in in it.

[sinkov]

Sorry,I can't buy in to anything American.

I can, if it wasn't for the hurricanes I'd have been living in Florida for the last 15 years.

[Altobelli]

I can, if it wasn't for the hurricanes I'd have been living in Florida for the last 15 years.

If it wasnt for Matron I might have been your neighbour Sinkov